By Commodity News Service Canada
Winnipeg, July 17 – The Canadian dollar had minimal change on Thursday as traders were generally risk-adverse in the wake of the latest round of sanctions levied against Russia by the United States, analysts say.
At 9:05 CDT Thursday morning, the Canadian dollar was at US$0.9305 or US$1 = C$1.0750, lowering 0.01 of a cent from Wednesday’s close.
The U.S. announced broader sanctions against Russia, targeting two major energy firms, a pair of powerful institutions, eight weapon firms and four individuals. The increased U.S. economic pressure is designed to end the insurgency in eastern Ukraine that is widely believed to be backed by the Kremlin, analysts say.
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The European Union has said that it will halt lending for public infrastructure projects in Russia by the European Investment Bank.
On the commodity markets, August crude oil shot up for the second day in a row, rising to US$102.68 a barrel. August gold bullion was also up, rising $3.30 to US$1,303.10 an ounce. Meanwhile September copper prices declined to US$3.20 a pound.
The TSX was down 2.63 points to sit at 15,223.71 at 9:05 CDT Thursday morning.
