By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar slipped below 72 U.S. cents on Thursday, as its downturn pressed on for a seventh consecutive session.
The loonie finished at US$0.7196 or US$1=C$1.3897, compared to Wednesday’s close of US$0.7212 or US$1=C$1.3866. Over the last week, it has dropped 0.64 of a cent.
Meanwhile, the United States Dollar Index gained 0.460 of a point at 98.540, putting pressure on its Canadian cousin.
Benchmark crude oil prices were higher on Wednesday, as U.S. demand remained strong. Also, the market continued to vacillate as to which direction to take over the prospect of talks between Ukraine and Russia.
West Texas Intermediate added 74 cents at US$63.45 and Brent crude also rose 74 cents at US$67.58 per barrel.
The TSX Composite Index advanced 176.67 points on Thursday to close at 28,055.43, a little short of its all-time record.
Gold gave up US$5.80 at US$3,382.70 per ounce.
