Canadian Dollar and Business Outlook: Loonie standing pat
U.S. markets to observe Carter's state funeral
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar was relatively steady Thursday morning as the United States dollar was firm while crude oil only made small increases.
As of 8:35 am CST, the loonie was at US$0.6944 or US$1=C$1.4399 compared to Wednesday’s close of US$0.6949 or US$1=C$1.4390.
On the U.S. Dollar Index, the greenback was virtually unchanged at 108.910.
Benchmark crude oil prices were slightly higher on Thursday morning, pushed upward by demand for heating fuel. Expectations of growing U.S. fuel stockpiles tempered the gains.
Brent crude oil added 34 cents cents at US$76.50 per barrel and West Texas Intermediate rose 29 cents at US$73.61.
Shortly after Thursday’s opening, the TSX/S&P Composite Index nudged up 13.32 points at 25,065.00.
Gold advanced US$17.70 at US$2,690.10 per ounce.
With the state funeral for former President Jimmy Carter today, the U.S. markets will close early while others will pause trading for a moment of silence.
