Canadian Financial Close: Loonie inches up
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar increased slightly on Thursday, a support from a weaker United States dollar was overpowered by declines in crude oil.
The Canadian dollar closed at US$0.7223 or US$1=C$1.3844 compared to Wednesday’s close of US$0.7218 or US$1=C$1.3854. Meanwhile, the U.S. Dollar Index lost 0.252 of a point at 97.105.
Benchmark crude oil prices pulled back on Thursday, on trade worries of oversupply worldwide. West Texas Intermediate gave up US$1.37 at US$62.30 and Brent crude lost US$1.20 at US$66.29 per barrel.
The TSX Composite Index increased 228.50 points on Thursday to close at 29,407.89.
Gold slipped US$7.50 at US$3,674.50 per ounce.
