WINNIPEG, March 18 (MarketsFarm) – The Canadian dollar rose slightly on Thursday morning despite oil prices continuing to fall and Statistics Canada reporting a loss of 100,800 jobs in February.
As of 8:57 a.m. CDT, the loonie was at US$0.8032 or US$1=C$1.2449, compared to US$0.8022 or US$1=C$1.2465 when markets closed on Wednesday.
Benchmark oil prices retreated on Thursday as United States domestic oil supply increased for a fourth straight week and demand weakens in Asia.
Brent crude oil lost US$1.41 per barrel to US$66.59. West Texas Intermediate (WTI) tumbled by US$1.51 to US$63.09/barrel. Western Canadian Select (WCS) dropped by US$1.21 at US$52.98/barrel.
The TSX/S&P Composite Index stepped back from the 19,000 point mark, losing 55.63 to 18,927.47.
Gold dropped by US$21.49 to US$1,723.85 per ounce due to rising U.S. Treasury bond yields.
