WINNIPEG – The Canadian dollar dropped below 74 United States cents on Thursday morning.
The loonie was at US$0.7386 or US$1=C$1.3539, down from US$0.7403 or US$1=C$1.3508 at Wednesday’s close. Statistics Canada (StatCan) reported on Thursday that the country recorded a trade deficit of C$41 million last November due to a decline in energy exports, which dropped 2.3 per cent to C$64.4 billion. There had been a revised surplus of C$130 million in October.
The U.S. Dollar Index gained 0.70 of a point at 104.94.
Crude oil was slightly lower on Thursday as new COVID-19 infections in China hinder demand. Brent crude oil was down US$0.03 to US$77.81/barrel. West Texas Intermediate (WTI) declined US$0.20 at US$72.64/barrel. Meanwhile, Western Canadian Select (WCS) gained US$0.20 to US$46.44/barrel.
The TSX/S&P Composite Index lost 174.86 points to 19,413.97.
Gold fell US$18.60 per ounce to US$1,840.40.
