By MarketsFarm
WINNIPEG, April 20 (MarketsFarm) – The Canadian dollar was lower on Thursday morning, due to declines in global crude oil prices, while a slight drop in the United States dollar tempered further losses.
As of 8:38 am CDT, the loonie was at US$0.7420 or C$1.3478, compared to Wednesday’s close of US$0.7438 or US$1=C$1.3445. On the U.S. Dollar Index, the greenback dipped 0.113 of a point at 101.555.
Benchmark crude oil prices were lower Thursday morning, as concerns toward a slowing U.S. economy and a global recession continued to mount.
Brent crude oil stepped back US$1.80 at US$81.32 per barrel and West Texas Intermediate (WTI) was down US$1.67 at US$77.49.
Shortly after Thursday’s open the TSX/S&P Composite Index slipped 28.11 points at 20,652.72.
Gold added US$8.10 at US$2,015.40 per ounce.
