Canadian Dollar and Business Outlook: Little movement in loonie
Gains in greenback, crude oil
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was virtually unchanged on Thursday morning, as upticks in the United States dollar and global crude oil prices balanced off each other.
As of 8:35 am CST, the loonie was at US$0.7425 or US$1=C$1.34741 compared to Wednesday’s close of US$0.7424 or C$1.3469.
On the U.S. Dollar Index, the greenback gained 0.298 of a point at 104.215.
Benchmark crude oil prices were higher on Thursday morning due to ongoing Middle East tensions while growing U.S. stockpiles capped the increases.
Brent crude oil added US$1.25 at US$80.46 per barrel, while West Texas Intermediate US$1.19 at US$75.05.
Shortly after Thursday’s open the TSX/S&P Composite Index dipped 8.98 points at 20,960.20.
Gold lost US$13.60 at US2,038.10 per ounce.
