Glacier FarmMedia | MarketsFarm – The Canadian dollar took a small step back on Thursday morning.
The loonie was at US$0.7340 or US$1=C$1.3624 as of 8:28 a.m. CDT, compared to Wednesday’s close at US$0.7348 or US$1=C$1.3609.
The United States Dollar Index was up 0.14 of a point at 97.35.
Crude oil prices were climbing on trade optimism and a draw in U.S. stockpiles. Two European diplomats said the U.S. and the European Union are moving towards a new deal which would include a 15 per cent baseline tariff on EU goods entering the U.S. The U.S. Energy Information Administration reported U.S. crude inventories tightening by 3.2 million barrels at 419 million.
Brent crude oil gained US$0.72 per barrel at US$69.23/barrel. West Texas Intermediate rose US$0.83 at US$66.08/barrel.
The TSX/S&P Composite Index dropped 82.31 points at 27,334.10, coming off its record high on Wednesday.
Gold lost US$36.30 per ounce at $3,361.30.
