Canadian Dollar and Business Outlook: Loonie slips under 74 U.S. cents

Doubts surround OPEC+ meeting

By MarketsFarm

WINNIPEG, June 4 (MarketsFarm) – The Canadian dollar was slightly lower on Thursday morning as global benchmark crude oil prices dipped.

As of 8:42 CDT, the Canadian dollar was at US$0.7396 or C$1.3526, compared to Wednesday’s close of US$0.7405 or C$1.3504.

Benchmark crude oil prices were lower on Thursday morning, as the OPEC+ alliance has yet to decide on a meeting to discuss further production cuts.

Brent crude oil was down 38 cents at US$39.41 per barrel. West Texas Intermediate (WTI) lost 55 cents at US$36.74 per barrel. Meanwhile, Western Canadian Select (WCS) was up 13 cents at US$28.36 per barrel.

At the opening, the TSX/S&P Composite Index was down 36.22 points at 15,538.89

Gold was up US$14.29 at US$1,713.97 per ounce.

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