By MarketsFarm
WINNIPEG, Feb. 23 (MarketsFarm) – The Canadian dollar was slightly higher on Thursday morning, getting strength from rising crude oil prices and a strong report from Statistics Canada (StatCan).
As of 8:36 am CST, the loonie was at US$0.7390 or C$1.3534, compared to Wednesday’s close of US$0.7384 or US$1=C$1.3542. On the United States Dollar Index, the greenback slipped 0.073 of a point at 104.450.
Benchmark crude oil prices were higher on Thursday morning, as hawkish sentiment towards the U.S. Federal Reserve’s next interest rate announcement waned.
Brent crude oil added 98 cents at US$81.58 per barrel. West Texas Intermediate (WTI) gained US$1.06 at US$75.01. Western Canadian Select (WCS) advanced US$1.14 at US$57.94.
StatCan reported this morning that corporate net income before taxes, seasonally adjusted, hit C$143.6 billion in the fourth quarter of 2022.
Shortly after Thursday’s open the TSX/S&P Composite Index was up 75.40 points at 20,268.73.
Gold was down US$4.10 at US$1,837.40 per ounce.
