Canadian Dollar and Business Outlook: Loonie holding firm
Greenback, crude oil balance off each other
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was virtually unchanged on Thursday morning, with little movement in the United States dollar and small increases in global crude oil prices.
As of 8:45 am CST, the loonie was at US$0.7486 or C$1.3355, compared to Wednesday’s close of US$0.7487 or US$1=C$1.3356.
On the U.S. Dollar Index, the greenback inched up 0.015 of a point at 102.210.
Benchmark crude oil prices were slightly higher on Thursday morning, due to rising tensions throughout the Middle East. Upticks were limited by high levels of U.S. oil production.
Brent crude oil added 14 cents at US$78.39 per barrel, while West Texas Intermediate gained 28 cents at US$72.98.
The TSX/S&P Composite Index opened flat on Thursday, as shortly after the open it slipped 4.83 points at 20,813.75.
Gold tacked on US$4.90 at US2,047.70 per ounce.
