Canadian Dollar and Business Outlook: Loonie, crude oil show little change

Glacier FarmMedia | MarketsFarm – The Canadian dollar was slightly lower on Wednesday morning.

The loonie was at US$0.7250 or US$1=C$1.3793 as of 8:30 a.m. CDT, compared to Tuesday’s close at US$0.7255 or US$1=C$1.3783. Statistics Canada reported today that February retail sales totaled C$56.9 billion, up one per cent from January.

The United States Dollar Index increased 0.21 of a point at 99.45.

Crude oil prices were relatively unchanged despite lower United States stockpiles and upcoming talks between the U.S. and China. Brent crude oil added US$0.03 per barrel at US$62.18 and West Texas Intermediate was up US$0.05/barrel at US$59.14.

The TSX/S&P Composite Index surpassed the 25,000-point mark, gaining 48.16 points at 25,022.88.

Gold lost US$28 per ounce at $3,395.40.