By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar continued to peel back Thursday morning as trade talks between Canada and the United States press towards Friday’s deadline.
As of 8:36 am CDT, the loonie was at US$0.7227 or US$1=C$1.3837 compared to Wednesday’s close of US$0.7241 or US$1=C$1.3811. On the U.S. Dollar Index, the greenback nudged up 0.184 of a point at 99.345.
Statistics Canada reported on Thursday that the country’s economy shrank 0.1 per cent in May, but the federal agency projected 0.1 per cent growth for June.
Benchmark crude oil prices stepped back on Thursday morning due to larger-than-expected U.S. crude stocks and rising uncertainty over tariff threats made by the Trump administration.
West Texas Intermediate was down 62 cents at US$69.38 and Brent crude oil gave up 53 cents at US$72.71 per barrel.
The TSX/S&P Composite Index gained 102.10 points at 27,472.06.
Gold was up US$7.80 at US$3,360.60 per ounce.
