Canadian Dollar and Business Outlook: Loonie declines, gold finds record price

Glacier FarmMedia | MarketsFarm – The Canadian dollar continued its rollercoaster ride on Thursday morning.

The loonie was at US$0.6984 or US$1=C$1.4318 as of 8:31 a.m. CDT, compared to Wednesday’s close at US$0.7009 or US$1=C$1.4268. On Wednesday, United States President Donald Trump confirmed there will be 25 per cent tariffs imposed on auto imports starting April 2.

The United States Dollar Index was down 0.14 of a point at 104.41.

Crude oil was lower on Thursday. West Texas Intermediate (WTI) dipped US$0.09 at US$69.56 per barrel. Brent crude oil dropped US$0.17 at US$73.62/barrel.

The TSX/S&P Composite Index lost 67.59 points at 25,093.47.

Gold was up US$28.70 per ounce at $3,081.00. Earlier in the day, it reached an all-time high of US$3,095.00/ounce.