Forex
Canadian Dollar Gains Amid Global Market Volatility
The Canadian dollar made some gains on Wednesday morning, rebounding from its previous close. The loonie was trading at US$0.7118 or US$1=C$1.4049 as of 8:45 a.m. CDT, up slightly from Tuesday's close of US$0.7108 or US$1=C$1.4068.
Crude oil prices were mixed, with Brent crude gaining US$0.53 at US$79.89 per barrel after Iran-aligned Houthi rebels claimed they struck a Saudi oil tanker in the Red Sea. However, there was some optimism that a new deal to reopen the Strait of Hormuz could be done by today.
The TSX/S&P Composite Index jumped 560.38 points at 36,361.97 after hitting an all-time high on Tuesday. Gold prices also rose, up $102.90 per ounce at US$4,255.50.