WINNIPEG, Feb. 9 (MarketsFarm) – The Canadian dollar stayed mostly stagnant early Tuesday morning as oil prices went down after a week-long rally.
As of 8:35 a.m. CST, the Canadian dollar was at US$0.7843 or US$1=C$1.2751, compared to Monday’s close of US$0.7841 or US$1=C$1.2753.
Benchmark crude oil retained its high prices on Tuesday morning, but there are fears now that demand could push producers to bring more supply to market.
Brent crude oil decreased US$0.30 to US$60.26 per barrel. West Texas Intermediate (WTI) fell US$0.36 to US$57.61/barrel. Western Canadian Select (WCS) went down US$0.16 at US$47.31/barrel.
After a record day on Monday, the TSX/S&P Composite Index continued to move up by 30.93 to 18,361.19.
Gold kept its rally, rising US$3.99 at US$1,834.80 per ounce.
