Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 14 (MarketsFarm) – The Canadian dollar retreated Thursday morning, as the United States dollar surged upward and crude oil prices fell back.
As of 8:34 am CDT, the Canadian dollar was at US$0.7573 or C$1.3211, compared to Wednesday’s close of US$0.7707 or C$1.2976.
On the United States Dollar Index, the greenback jumped 1.119 points at 108.905, surpassing its 52-week high.
Benchmark crude oil prices were weaker on Thursday morning as the stronger U.S. dollar made exports more expensive.
West Texas Intermediate (WTI) gave up US$2.63 at US$93.67 per barrel. Brent crude oil declined US$2.28 at US$97.29 per barrel. Western Canadian Select (WCS) lost US$1.98 at US$72.56 per barrel.
At the open, the TSX/S&P Composite Index shed 167.11 points at 18,448.08.
Gold dropped US$30.20 at US$1,705.30 per ounce.
