By Glen Hallick
Glacier FarmMedia – The Canadian dollar was stronger on Thursday, gleaning support from more spikes in crude oil and the continued weakening of the United States dollar.
The loonie finished at US$0.7399 or US$1=C$1.3515 compared to Wednesday’s finish of US$0.7369 or US$1=C$1.3571.
On the U.S. Dollar Index, the greenback gave up 0.194 of a point at 96.080.
Benchmark crude oil prices were stronger on Thursday, as the White House increased the pressure on Iran to make a new deal on its nuclear program.
West Texas Intermediate gained US$2.14 at US$65.35 per barrel, Brent crude advanced US$2.32 at US$70.72.
Statistics Canada reported the country’s November international merchandise trade dropped 2.8 per cent from October at a deficit of C$2.2 billion. November’s international trade in services fell to an C$11 million surplus from C$400 million in October.
The TSX Composite Index stepped back on Thursday, giving up 159.94 points to close at 33,016.13.
Gold climbed US$81.80 at US$5,422.00 per ounce but hit another all-time record of US$5,626.80 earlier in the session.
