By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar inched up on Thursday, benefitting from increases in crude oil while the United States dollar held firm.
The loonie closed at US$0.7126 or US$1=C$1.4034 compared to Wednesday’s close of US$0.7113 or US$1=C$1.4059. On the U.S. Dollar Index, the greenback was unchanged at 99.522.
Benchmark crude oil prices drifted upward on Thursday, amid thin trading in the U.S. due to the Thanksgiving holiday. The market continued to vacillate between hope for a peace deal in Ukraine and skepticism an agreement can be reached.
West Texas Intermediate rose 45 cents at US$59.10 and Brent crude added 21 cents at US$63.34 per barrel.
The TSX Composite Index nudged up on Thursday, tacking on 16.46 points at 31,196.71, for a third consecutive record close.
Gold lost US$12.70 at US$4,189.60 per ounce.
