By MarketsFarm
WINNIPEG, May 21 (MarketsFarm) – The Canadian dollar was steady on Thursday morning, due to relative weakness in the United States dollar caused by continually dismal unemployment data.
At 8:30 CDT Thursday morning the Canadian dollar was at US$0.7196 or C$1.3896, which compares with Wednesday’s North American close of US$0.7198 or C$1.3893.
According to a recent report, another 2.44 million Americans have claimed unemployment benefits, which was in line with expectations. A total of 38.6 million Americans are out of work.
Benchmark crude oil indices were stronger for the sixth consecutive day due to decreased U.S. stockpiles. West Texas Intermediate (WTI) was up by 94 cents at US$34.43 per barrel. Brent Crude was up by US$1.04 at US$36.79 per barrel.
The TSX was down by 35.91 points at 8:40 CDT to trade at 14,961.65 points.
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