WINNIPEG – The Canadian dollar moved slightly upward the day after an announcement from the Bank of Canada (BoC).
As of 8:34 a.m. CDT, the loonie was at US$0.7380 or US$1=C$1.3550, compared to US$0.7372 or US$1=C$1.3565 on Wednesday. That day, BoC announced it raised its key interest rate by 50 basis points to 3.75 per cent instead of the 75 point raise many economists expected.
The United States Dollar Index jumped 0.67 of a point at 110.37.
Crude oil continued its rise on Thursday due to a high number of U.S. fuel and oil exports as well as depleting gasoline stockpiles. Brent crude oil gained US$1.13 per barrel to US$96.82. West Texas Intermediate (WTI) rose US$1.40 at US$89.31/barrel. Western Canadian Select (WCS) climbed up US$1.20 to US$61.56/barrel.
The TSX/S&P Composite Index surged 178.62 points to 19,458.38.
Gold declined US$4.30 per ounce to US$1,664.90.
