By Glen Hallick
Glacier FarmMedia – The Canadian dollar stepped back Thursday morning, after a positive close on Wednesday. The loonie was pulled lower by an increase in the United States dollar, while hikes in crude oil tempered the downside.
As of 8:37 am CDT, the Canadian dollar was at US$0.7186 or US$1=C$1.3919 compared to Wednesday’s close of US$0.7200 or US$1=C$1.3888. On the U.S. Dollar Index, the greenback advanced 0.502 of a point at 99.960.
Benchmark crude oil prices surged on Thursday morning, after United States President Donald Trump, during a televised address, didn’t indicate when the Middle East war could end.
West Texas Intermediate jumped US$12.88 at US$113.00 per barrel and Brent crude gained US$8.12 at US$109.28.
In Thursday morning activity, the TSX/S&P Composite Index fell 338.19 points at 32,619.76. Gold dropped US$191.90 at US$4,622.20 per ounce.
