By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar jumped about a half cent on Thursday, fueled by a downturn in its United States counterpart.
The loonie finished at US$0.7331 or US$1=C$1.3640, compared to Wednesday’s close of US$0.7280 or US$1=C$1.3737.
The U.S. Dollar Index lost 0.358 of a point at 96.915, the greenback’s lowest level in about three years.
Benchmark crude oil prices were slightly higher on Thursday, as U.S. demand edged out concerns over the tenuous ceasefire between Iran and Israel.
Brent crude bumped up 33 cents at US$68.01 per barrel and West Texas Intermediate gained 61 cents at US$65.53.
Statistics Canada reported on Thursday that the average wage for Canadian workers rose 4.4 per cent from April to April, outpacing inflation of 1.7 per cent. StatCan said average weekly earnings were almost $1,300 per week.
The TSX Composite Index added 185.63 points on Thursday, to close at a new all-time high of 26,751.95, breaking yesterday’s record.
Gold tacked on US$1.50 at US$3,344.60 per ounce.
