WINNIPEG – The Canadian dollar saw a small decline on Thursday while inflation in the United States reached another 40-year high.
As of 8:45 a.m. CST, the loonie was at US$0.7880 or US$1=C$1.2690, compared to US$0.7886 or US$1=C$1.2680 on Wednesday.
The United States Dollar Index was up 0.39 of a point at 95.89. The U.S. Labor Department reported on Thursday inflation rose to its highest level since 1982 at 7.5 per cent, exceeding analysts’ estimates. Core prices, which exclude food and energy, increased six per cent compared to a year ago.
Crude oil prices saw increases on Thursday. Brent crude oil jumped US$0.71 per barrel at US$92.26. West Texas Intermediate (WTI) rose US$1.03 to US$90.69/barrel. Western Canadian Select (WCS) added US$0.68 to US$77.13/barrel.
The TSX/S&P Composite Index advanced 98.13 points to 21,702.32.
Gold declined US$3.70 per ounce to US$1,832.90.
