Canadian Dollar and Business Outlook: Loonie, crude oil higher ahead of Easter
Glacier FarmMedia | MarketsFarm – The Canadian dollar was on the rise Thursday morning.
The loonie was at US$0.7205 or US$1=C$1.3879 as of 8:39 a.m. CDT, higher than US$0.7199 or US$1=C$1.3890 at Wednesday’s close. The United States Dollar Index was up 0.09 of a point at 99.47. Markets in Canada and the U.S. will be closed tomorrow for Good Friday.
Newly imposed U.S. sanctions on Chinese importers of Iranian oil boosted crude oil prices. West Texas Intermediate (WTI) rose US$0.92 at US$63.39 per barrel. Brent crude oil advanced US$0.85 at US$66.70/barrel.
The TSX/S&P Composite Index advanced 100.04 points at 24,206.83.
Gold eased off US$9.10 per ounce at $3,337.30.