Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 16 (MarketsFarm) – The Canadian dollar was relatively steady on Thursday morning, as the United States dollar pulled back and with weakness in crude oil.
As of 8:42 am CDT, the Canadian dollar was at US$0.7727 or C$1.2943, compared to Wednesday’s close of US$0.7723 or C$1.2948.
On the U.S. Dollar Index, the greenback gave up 0.685 of a point at 104.235.
Benchmark crude oil prices were lower on Thursday morning following the 75 basis point interest rate hike by the U.S. Federal Reserve on Wednesday and U.S. oil production at its highest levels in two years.
West Texas Intermediate (WTI) lost US$1.07 at US$114.24 per barrel. Brent crude oil shed 95 cents US$1.06 at US$117.56 per barrel. Western Canadian Select (WCS) fell US$2.53 at US$95.71 per barrel.
At the open, the TSX/S&P Composite Index dropped 327.55 points at 19,284.01.
Gold was up US$9.50 at US$1,829.10 per ounce.
