Glacier FarmMedia — The Canadian dollar held steady on Thursday, despite strong gains in crude oil.
The Canadian dollar settled at US$0.7146 or US$1=C$1.3993, which compares with Wednesday’s close of US$0.7145 or US$1=C$1.3996.
Retail sales in Canada increased one per cent in August, to C$70.4 billion, reported Statistics Canada. Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were up 1.1 per cent.
Crude oil climbed higher after the United States imposed fresh sanctions on Russian oil suppliers. West Texas Intermediate crude oil was up by 5.45 per cent at US$61.69 per barrel.
The TSX Composite Index gained 203.30 points at 30,186.28 points.
