WINNIPEG – The Canadian dollar rose on Thursday while a new report revealed that inflation in the United States reached a level unseen in decades.
As of 8:38 a.m. CST, the loonie was at US$0.7815 or US$1=C$1.2796, compared to US$0.7800 or US$1=C$1.2821 on Wednesday.
The U.S. Dollar Index was up 0.29 of a point at 98.26. The U.S. Labor Department announced on Thursday inflation rose to an annualized rate of 7.9 per cent in February, the biggest jump since 1981.
After pulling back on Wednesday, crude oil returned to green on Thursday. Brent crude oil advanced US$4.85 per barrel to US$115.99. West Texas Intermediate (WTI) increased US$4.77 to US$113.47/barrel. Western Canadian Select (WCS) added US$3.98 to US$101.31/barrel.
The TSX/S&P Composite Index lost 61.21 points to 21,432.02.
Gold rebounded, rising US$17.60 per ounce to US$2,005.80.
