WINNIPEG– The Canadian dollar nearly approached 78 United States cents on Thursday morning, continuing its recent rise amid good economic news despite the spread of the Omicron COVID-19 variant.
As of 8:48 a.m. CST, the loonie was at US$0.7799 or US$1=C$1.2822, compared to Thursday’s close of US$0.7773 or US$1=C$1.2865. Canada had a record 14,995 new cases of COVID-19 on Wednesday. Statistics Canada reported on Thursday the economy grew 0.8 per cent in October and 0.3 per cent in November.
The United States Dollar Index gained 0.15 of a point to 96.22.
Benchmark crude oil prices made gains on Thursday due to lower stockpiles. Brent crude oil advanced US$0.41 per barrel to US$75.70. West Texas Intermediate (WTI) increased US$0.22 to US$72.98/barrel. Western Canadian Select (WCS) moved up US$0.30 to US$58.10/barrel.
The TSX/S&P Composite Index, along with other stock markets, continued with its meteoric rise, surging 94.70 points to 21,164.75.
Gold was down US$1.60 per ounce to US$1,800.60.
