Glacier FarmMedia – The Canadian dollar closed above the 72 United States cent mark for the first time in five days.
The loonie settled at US$0.7210 or US$1=C$1.3870, compared to US$0.7188 or US$1=C$1.3913 on Friday. Statistics Canada reported today that Canada’s annual inflation rate increased to 2.4 per cent, exceeding analysts’ expectations of it remaining steady at 2.2 per cent.
U.S. markets were closed Monday for Martin Luther King Jr. Day.
Crude oil prices were relatively steady today as Iranian supply risks took a back seat to U.S. President Donald Trump’s threats to Greenland.
West Texas Intermediate was unchanged at US$59.44 per barrel. Brent crude oil was up US$0.02/barrel at US$64.15.
The TSX/S&P Composite Index gained 50.41 points to close at 33,090.96 points after reaching a record-high of 33,100.48 earlier in the session.
Gold jumped US$81.30 per ounce at US$4,676.70 after also hitting an all-time high of US$4,698.00.
