Canadian Dollar and Business Outlook: Small increase for loonie
Oil hovers around unchanged ahead of Trump's tariff deadline
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar tacked about a tenth of a cent on Thursday morning as the United States dollar stepped back and crude oil inched upward.
As of 8:38 am CST, the loonie was at US$0.6939 or US$1=C$1.4404 compared to Wednesday’s close of US$0.6928 or US$1=C$1.4439. On the United States Dollar Index, the greenback gave up 0.264 of a point at 107.545.
Benchmark crude oil prices turned around on Thursday morning to edge higher as the market bides its time ahead of the Trump administration’s move on tariffs set for Saturday.
Brent crude oil bumped up nine cents at US$76.67 per barrel and West Texas Intermediate added eight cents at US$72.70.
Shortly after the TSX/S&P Composite Index opened, it advanced 178.41 points at 24,651.71.
Gold jumped $32.20 at US$2,825.70 per ounce.
