By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar gained more ground on Thursday morning, as its United States counterpart slipped back.
As of 8:42 am CDT, the loonie was at US$0.7332 or US$1=C$1.3637 compared to Wednesday’s close of US$0.7312 or US$1=C$1.3677. On the U.S. Dollar Index, the greenback gave up 0.370 of a point at 98.360.
Statistics Canada reported on Thursday that Canada’s total trade deficit expanded to C$7.5 billion in April, with a record C$7.1 billion deficit in merchandise exports.
Benchmark crude oil prices were higher on Thursday morning, following a phone call between U.S. President Donald Trump and Chinese President Xi Jinping. However, the gains were tempered by larger U.S. stockpiles and a price cut by Saudi Arabia.
Brent crude oil rose 89 cents at US$65.75 per barrel and West Texas Intermediate added 96 cents at US$63.81.
The TSX/S&P Composite Index bumped up 31.22 points shortly after it opened at 26,360.22.
Gold was up US$4.80 at US$3,404.00 per ounce.
