Advertisement

Canadian Dollar and Business Outlook: Loonie down, crude oil higher

| 1 min read

Glacier FarmMedia MarketsFarm – The Canadian dollar took a step back on Thursday morning.

The loonie was at US$0.7350 or US$1=C$1.3605, down from Wednesday’s close of US$0.7367 or US$1=C$1.3574. The Bank of Canada (BoC) announced on Wednesday its key interest rate will be left unchanged.

The United States Dollar Index was down 0.31 of a point to 103.84.

Crude oil prices were on the rise after consecutive days of losses. Brent crude oil was up US$0.87 at US$75.17 per barrel. West Texas Intermediate (WTI) gained US$0.88 at US$70.26/barrel.

The TSX/S&P Composite Index added 9.64 points at 20,283.85.

Gold advanced US$0.70 at US$2,048.60 per ounce.