By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar remained firm on Thursday, as slight movements in the United States dollar and crude oil offered little direction.
The loonie closed at US$0.7260 or US$1=C$1.3774 compared to Wednesday’s close of US$0.7256 or US$1=C$1.37482. On the U.S. Dollar Index, the greenback was up 0.098 of a point at 98.100.
Benchmark crude oil prices were relatively steady on Thursday, as the market contends with ample global supplies versus rising tensions between the U.S. and Venezuela and the growing likelihood of more sanctions against Russia.
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Canadian Dollar and Business Outlook: Loonie holding firm
By Glen Hallick Glacier FarmMedia | MarketsFarm – The Canadian dollar was virtually unchanged on Thursday morning, getting little direction…
West Texas Intermediate nudged up nine cents at US$56.03 per barrel and Brent crude tacked on three cents at US$59.71/barrel.
Canadian Prime Minister Mark Carney reaffirmed the federal government’s support for the country’s supply management system. Carney’s comments came after U.S. Trade Representative Jamieson Greer said the Trump administration won’t agree to extend the Canada-U.S.-Mexico Agreement if supply management continued to be excluded from trade talks.
The TSX Composite Index advanced 190.83 points on Thursday at 31,440.85.
Gold gave up US$10.50 at US$4,363.40 per ounce.
