WINNIPEG – The Canadian dollar was slightly lower on Thursday morning.
As of 8:41 a.m. CDT, the loonie was at US$0.7575 or US$1=C$1.3201, compared to US$0.7595 or US$1=C$1.3166 on Wednesday.
A labour disruption involving multiple railways in the United States and unions representing more than 100,000 workers was averted on Thursday after reaching a tentative new agreement, according to the U.S. Labor Department. The U.S. Dollar Index improved 0.08 of a point at 109.74.
Crude oil prices fluctuated on Thursday between demand concerns from China and comments from the U.S. Department of Energy saying it is in no hurry to refill the country’s strategic oil reserves. Brent crude oil declined US$1.77 per barrel to US$92.33. West Texas Intermediate (WTI) dropped US$1.53 at US$86.95/barrel. Western Canadian Select (WCS) was down US$1.21 to US$66.04/barrel.
The TSX/S&P Composite Index lost 55.71 points to 19,670.43.
Gold fell US$17.90 per ounce to US$1,691.20.
