Canadian Dollar and Business Outlook: Loonie down, crude oil on the rise

The Canadian dollar was easing back again on Thursday morning.

The loonie was at US$0.7417 or US$1=C$1.3483 as of 8:31 a.m. CDT, compared to US$0.7423 or US$1=C$1.3472 on Wednesday.

The United States Dollar Index increased 0.29 of a point at 101.38.

U.S. economic growth, fewer stockpiles and a partial halt in Libyan production caused crude oil prices to move upwards on Thursday. Brent crude oil advanced US$0.91 at US$79.56 per barrel. West Texas Intermediate (WTI) jumped US$0.98 at US$75.50/barrel.

The TSX/S&P Composite Index added 105.58 points at 23,232.56.

Gold was up US$7.10 per ounce at US$2,544.90.