Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Thursday morning as the United States dollar strengthened.
The loonie was at US$0.6945 or US$1=C$1.4399 as of 8:35 a.m. CDT, compared to Wednesday’s close at US$0.6980 or US$1=C$1.4326.
The U.S. Dollar Index was up 0.60 of a point at 104.03. The U.S. Federal Reserve announced on Wednesday it left its key interest rates unchanged.
Crude oil was relatively steady as gains due to a drawdown in U.S. inventories were erased by a stronger dollar. Brent crude oil lost US$0.01 at US$70.77 per barrel. West Texas Intermediate (WTI) dipped US$0.06 at US$67.10/barrel.
The TSX/S&P Composite Index shed 22.98 points at 25,046.23.
Gold declined US$2.10 per ounce at $3,039.10.
