Canadian Dollar and Business Outlook: Loonie keeps sliding back
Uncertainty surrounding PM, government weighs on dollar
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar dipped on Thursday morning, as calls for Prime Minister Justin Trudeau to resign ramped up in recent days as his Liberal government teeters on the verge of collapse.
As of 8:37 am CST, the loonie was at US$0.6968 or US$1=C$1.4350 compared to Wednesday’s close of US$0.6972 or US$1=C$1.4343. On the U.S. Dollar Index, the greenback nudged up 0.016 of a point at 107.765.
Benchmark crude oil prices bumped up on Thursday morning, as global tensions edged out the increased likelihood of a weaker U.S. economy in 2025.
Brent crude oil added 43 cents at US$73.82 per barrel and West Texas Intermediate gained 64 cents at US$71.22.
Shortly after Thursday’s open, the TSX/S&P Composite Index was up 33.88 points at 24,590.88.
Gold dropped US$41.70 at US$2,611.60 per ounce.
