By Commodity News Service Canada
Winnipeg, February 12 – The Canadian dollar was higher against its American counterpart Thursday morning, buoyed by stronger commodity prices and ideas of a ceasefire in eastern Ukraine.
At 8:50 CST Thursday morning, the loonie was up 0.0101 of a cent to US$0.8024 or US$1 = C$1.2462. Costs associated with a barrel of oil are still locked in a sea of volatility right now, with values subject to a wide range following the huge decline in prices between last summer and the beginning of 2015. US crude stocks hit a record high last week.
Read Also
Canadian Financial Close: Loonie steady, mercurial day for gold
Glacier FarmMedia — The Canadian dollar stayed put on Friday, maintaining its 0.24 U.S. cent gain from the previous week….
Banks in the Eurozone are pressing Greece to reach a deal with its international creditors. However, the country’s new Prime Minister has stated he’s not interested if it means more cutbacks and austerity for his people.
Markets were also lifted by news of a preliminary peace deal for Ukraine. A ceasefire is apparently set to go into effect on Sunday.
On the commodity markets the March crude contract in New York rose US$1.08 to US$49.92 a barrel. March copper rose four cents to US$2.58 a pound while the April gold contract gained $4.50 to US$1,224.10 an ounce.
At 8:50 CST Thursday morning, the TSX was up 56.60 points to 15,208.10.
