WINNIPEG – The Canadian dollar dropped below the 75 United States cent mark on Thursday morning.
As of 8:35 a.m. CST, the loonie was at US$0.7475 or US$1=C$1.3378, down from US$0.7513 or US$1=C$1.3311 at Wednesday’s close. On Wednesday, StatCan reported that Canada’s annual inflation rate was steady at 6.9 per cent in October.
The U.S. Dollar Index gained 0.80 of a point at 107.08
Crude oil continued its decline Thursday morning due to a reduced global demand outlook. Brent crude oil declined US$1.00 per barrel to US$91.86. West Texas Intermediate (WTI) retreated US$1.44 at US$84.15/barrel. Western Canadian Select (WCS) fell US$2.09 to US$54.92/barrel.
The TSX/S&P Composite Index lost 137.82 points to 19,820.14.
Gold tumbled US$15.50 per ounce to US$1,760.30.
