By Glen Hallick
Glacier FarmMedia – The Canadian dollar lost a tenth of a cent on Thursday, unable to capitalize on more increases in crude oil.
The loonie finished at US$0.7301 or US$1=C$1.3696 compared to Wednesday’s close of US$0.7311 or US$1=C$1.3678. It has not closed higher since Feb. 10, when it peaked at US$0.7388 or US$1=C$1.3537.
On the U.S. Dollar Index, the greenback added 0.154 of a point at 97.780.
Benchmark crude oil prices were stronger on Thursday, pushed up by increased tensions between the U.S. and Iran.
West Texas Intermediate added US$1.57 at US$66.76 per barrel, and Brent crude was also up US$1.57 at US$71.92.
Canada’s international goods trade balance shrunk to a deficit of C$1.3 billion in December, half that in November, Statistics Canada reported on Thursday. International trade in services deficit deepened to C$700 million in December versus C$100 million in November.
The TSX Composite Index advanced 205.25 points on Thursday to finish at 33,594.98, setting a new record high close for the second day.
Gold tacked on US$8.30 at US$5,017.80 per ounce.
