Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 29 (MarketsFarm) – The Canadian dollar was virtually unchanged on Thursday morning, as a weaker United States dollar was countered by declines in crude oil prices.
As of 8:36 am CST, the loonie was at US$0.7373 or C$1.3562, compared to Wednesday’s close of US$0.7372 or C$1.3565.
On the U.S. Dollar Index, the greenback gave up 0.362 of a point at 103.820.
Benchmark crude oil prices were lower on Thursday morning, over fears of COVID-19 spreading rapidly in China after its government loosened its strict lockdown measures.
Brent crude oil dropped US$1.49 at US$81.77 per barrel. West Texas Intermediate (WTI) fell US$1.66 at US$77.30/barrel. Western Canadian Select (WCS) lost US$1.18 at US$49.80/barrel.
Shortly after Thursday’s open the TSX/S&P Composite Index tacked on 67.91 points at 19,352.01.
Gold was relatively steady with a 10-cent increase at US$1,815.90 per ounce.
