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Industry: Email Alert RSS FeedCanadian Forex/Bond Review: C$ Strengthens Following Crude Oil.
Resource News International, March, 2008
Byline: Resource News International
Winnipeg, MB, Mar 05, 2008 (Resource News International via COMTEX) -- The Canadian dollar was stronger on Wednesday, as the commodity-linked currency found some support from the sharp gains seen in the outside crude oil and gold markets.
The Canadian currency closed out the North American session at US$1.0143 (C$0.9859) on Wednesday. This compares with Tuesday's North American close of US$1.0049 (C$0.9951).
Crude oil values in the US climbed US$5 higher on Wednesday, setting a new record above US$104 per barrel. Gold prices were also considerably higher on the day, helping the Canadian currency rebound from its recent weakness.
The Canadian dollar had come under some pressure on Tuesday...
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