Glacier FarmMedia – The Canadian dollar retreated on Thursday while crude oil prices turned higher.
The loonie closed at US$0.7223 or US$1=C$1.3844, compared to US$0.7246 or C$1=C$1.3801 on Wednesday.
The United States Dollar Index gained 0.41 of a point at 100.01.
Crude oil advanced after U.S. President Donald Trump warned Iran on social media that they must “get serious soon” to avoid an escalation of the conflict. Both countries have sent their own ceasefire plans to each other, but they were rejected. Trump also claimed Iran allowed 10 oil tankers to pass through the Strait of Hormuz as “a gift” to the U.S.
West Texas Intermediate gained US$3.93 per barrel at US$94.25. Brent crude oil rose US$5.25/barrel at US$107.47.
The TSX/S&P Composite Index lost 495.08 points at 31,887.52.
Gold fell US$164.80 per ounce at US$4,387.50.
