Glacier FarmMedia – The Canadian dollar jumped Thursday morning, the day after the Bank of Canada’s latest interest rate announcement.
The loonie was at US$0.7256 or US$1=C$1.3782 as of 8:35 a.m. CST, compared to Wednesday’s close at US$0.7228 or US$1=C$1.3835. The BoC left its key interest rates unchanged at 2.25 per cent.
The United States Dollar Index dipped 0.31 of a point at 98.47. The Federal Reserve cut its key rates by 25 basis points on Wednesday.
Crude oil prices fell after reports said U.S. President Donald Trump’s peace proposal for Ukraine included restoring Russian energy to Europe. Crude pulled back despite the U.S. intercepting a Venezuelan oil tanker on Wednesday. West Texas Intermediate retreated US$1.19 at US$57.27 per barrel. Brent crude oil lost US$1.17 at US$61.04/barrel.
The TSX/S&P Composite Index was up 60.51 points at 31,557.36.
Gold gained US$38.50 per ounce at US$4,263.20.
