Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 14 (MarketsFarm) – The Canadian dollar was higher on Thursday morning despite gains in the United States dollar and lower crude oil prices.
As of 8:38 am CDT, the Canadian dollar was at US$0.7948 or C$1.2582, compared to Wednesday’s close of US$0.7932 or C$1.2607.
On the U.S. Dollar Index, the greenback advanced 0.372 of a point at 100.295.
Benchmark crude oil prices were lower on Thursday morning, due to concerns over COVID-19 lockdowns in China reducing the country’s demand. However, the eight-week-old war in Ukraine continued to underpin values.
West Texas Intermediate (WTI) lost US$1.57 at US$102.68 per barrel. Brent crude oil dropped US$1.55 at US$107.23 per barrel. Western Canadian Select (WCS) stepped back US$1.86 at US$89.41 per barrel.
At the open, the TSX/S&P Composite Index edged up 24.19 points at 21,862.21.
Gold was down US$4.90 at US$1,979.80 per ounce.
The markets in Canada and the U.S. will closed tomorrow for the Good Friday holiday.
