By MarketsFarm
WINNIPEG, Feb. 9 (MarketsFarm) – The Canadian dollar pushed higher on Thursday morning, aided by weakness in the United States dollar.
As of 8:40 am CST, the loonie was at US$0.7468 or C$1.3391, compared to Wednesday’s close of US$0.7447 or US$1=C$1.3429. On the U.S. Dollar Index, the greenback gave up 0.717 of a point at 102.545.
Benchmark crude oil prices receded on Thursday morning as U.S. crude inventories were growing. However, losses were stymied by increasing demand from China and the aftermath of the Middle East earthquakes.
Brent crude oil retreated US$1.03 at US$84.06 per barrel. West Texas Intermediate (WTI) lost 92 cents at US$77.75. Western Canadian Select (WCS) pulled back 71 cents at US$58.37.
Shortly after Tuesday’s open the TSX/S&P Composite Index gained 111.74 points at 20,791.28.
Gold advanced US$8.20 at US$1,898.90 per ounce.
