By Glen Hallick
Glacier FarmMedia – The Canadian dollar closed lower on Thursday, pulled down by a stronger United States dollar.
The loonie finished at US$0.7185 or US$1=C$1.3918 compared to Wednesday’s close of US$0.7200 or US$1=C$1.3888. On the U.S. Dollar Index, the greenback was up 0.392 of a point at 99.850.
Benchmark crude oil prices were stronger on Thursday afternoon, as the trade was concerned with the Middle East war continuing with more U.S. attacks on Iran.
West Texas Intermediate jumped US$11.67 at US$111.79 per barrel, and Brent crude advanced US$7.59 at US$108.75.
Statistics Canada reported on Thursday that the country’s merchandise trade deficit expanded to C$5.7 billion in February. Also, Canada’s surplus of service imports and exports improved to C$400 million that month.
The TSX Composite Index added 150.27 points on Thursday, finishing at 33,1087.22.
Gold dropped 113.50 at US$4,699.60 per ounce.
The markets in Canada and the U.S. will be closed tomorrow for Good Friday.
