Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Thursday morning, giving up nearly a half cent to a stronger United States dollar.
The loonie was at US$0.7201 or US$1=C$1.3887 as of 8:38 a.m. CDT, compared to Wednesday’s close at US$0.7248 or US$1=C$1.3796.
The United States Dollar Index increased 0.41 of a point at 100.02. On Wednesday, the U.S. Federal Reserve announced that it kept its key interest rate unchanged at 4.3 per cent, while warning of higher unemployment and inflation.
Growing optimism over planned trade talks between the U.S. and China lifted crude oil prices. Brent crude oil added US$0.78 per barrel at US$61.90 and West Texas Intermediate was up US$0.92/barrel at US$58.99.
The TSX/S&P Composite Index was flat, with a dip of 1.82 points at 25,159.36.
Gold lost US$21.10 per ounce at $3,370.80.
