Canadian Dollar and Business Outlook: Loonie breaks 80 cents U.S.

WINNIPEG – The Canadian dollar surpassed the 80-cent United States mark on Thursday.

As of 9:02 a.m. CDT, the loonie was at US$0.8016 or US$1=C$1.2475, compared to US$0.7958 or US$1=C$1.2566 when markets closed on Wednesday. This was despite the U.S. Commerce Department reporting that the U.S. economy grew at an annualized rate of 6.5 per cent in the second quarter.

Crude oil increased on Thursday. Brent crude oil gained US$0.40 per barrel to US$75.14. West Texas Intermediate (WTI) increased US$0.35 to US$72.74/barrel. Western Canadian Select (WCS) jumped US$0.49 to US$58.59/barrel.

The TSX/S&P Composite Index advanced 74.45 points at 20,304.85.

Gold surged US$18.96 per ounce to US$1,826.08.

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