WINNIPEG – The Canadian dollar was a little bit lower on Thursday.
As of 8:39 a.m. CDT, the loonie was at US$0.7717 or US$1=C$1.2958, compared to US$0.7727 or US$1=C$1.2942 on Wednesday. Statistics Canada reported on Wednesday that inflation rose in May to its highest level since 1983 at 7.7 per cent, exceeding economists’ average estimate of 7.3 per cent. Gas prices rose by 12 per cent in the month of May and 48 per cent year-over-year.
The United States Dollar Index was up 0.15 of a point at 104.35.
Crude oil prices were quietly making their way upwards Thursday morning. Brent crude oil added US$0.54 per barrel to US$102.28. West Texas Intermediate (WTI) was up US$0.41 at US$106.60/barrel. Western Canadian Select (WCS) increased US$0.72 to US$87.72/barrel.
The TSX/S&P Composite Index gained 41.42 points to 19.045.46.
Gold is up US$1.90 per ounce to US$1,840.30.
