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

| 1 min read

Glacier FarmMedia MarketsFarm – The Canadian dollar eased back on Thursday morning despite rising crude oil prices.

The loonie was at US$0.7410 or US$1=C$1.3495, compared to Wednesday’s close of US$0.7416 or US$1=C$1.3484. The United States Dollar Index was up 0.14 of a point at 103.37.

A large draw from U.S. stockpiles and stimulus towards the Chinese economy continued to lift crude oil prices. Brent crude oil rose US$1.31 at US$81.35 per barrel. West Texas Intermediate (WTI) jumped US$1.41 at US$76.50/barrel.

The TSX/S&P Composite Index added 48.11 points at 21,073.89.

Gold was up US$4.70 at US$2,020.70 per ounce.