Glacier FarmMedia – The Canadian dollar continued to move upward on Thursday morning as crude oil prices clawed back some of Wednesday’s losses.
The loonie was at US$0.7233 or US$1=C$1.3826 as of 8:33 a.m. CDT, compared to Wednesday’s close at US$0.7220 or US$1=C$1.3851. The United States Dollar Index lost 0.21 of a point at 98.93.
The two-week ceasefire between the U.S. and Iran remains very tenuous as Israel continued to attack Lebanon and oil tanker traffic on the Strait of Hormuz is moving through at a snail’s pace. As a result, crude oil prices were climbing higher.
April West Texas Intermediate advanced US$5.41 at US$99.82 per barrel. May Brent crude oil climbed US$3.41 at US$98.16/barrel.
The TSX/S&P Composite Index rose 81.42 points at 33,701.99. Gold added US$1.10 per ounce at US$4,778.30.
