WINNIPEG – Despite rising crude oil prices, the Canadian dollar was down on Thursday morning.
As of 8:37 a.m. CST on Thursday, the loonie was at US$0.7856 or US$1=C$1.2729, compared to Wednesday’s close of US$0.7863 or US$1=C$1.2717.
The United States Dollar Index increased 0.01 of a point to 96.18. The U.S. Federal Reserve, in its Dec. 14 and 15 meeting minutes released on Wednesday, indicated it would raise interest rates sooner than later. Today marks the first anniversary of the attacks on the Capitol building in Washington, D.C.
Benchmark crude oil prices surged on Thursday as political unrest in Kazakhstan and lower stockpiles pushed up prices. Brent crude oil gained US$1.83 per barrel to US$82.63. West Texas Intermediate (WTI) added US$1.84 to US$79.69/barrel. Western Canadian Select (WCS) jumped US$2.80 to US$67.99/barrel.
The TSX/S&P Composite Index advanced 55.00 points to 21,094.66.
The spectre of higher interest rates sharply affected the price of gold, which plunged US$36.70 per ounce to US$1,788.40.
