TORONTO — The loonie rose to top 80 cents US in late-morning trading after the Bank of Canada released a brighter outlook for economic growth this year, while gains in the energy sector helped Canada’s main stock index edge higher.
The Canadian dollar traded for 80.22 cents US compared with 79.54 cents US on Tuesday after the Bank of Canada raised its outlook for growth this year to 6.5 per cent. It had earlier expected growth of four per cent.
Meanwhile, the S&P/TSX composite index was up 5.41 points at 19,046.19.
In New York, the Dow Jones industrial average was up 172.49 points at 33,993.79. The S&P 500 index was up 20.47 points at 4,155.41, while the Nasdaq composite was up 68.25 points at 13,854.52.
The June crude contract was down 47 cents at US$62.20 per barrel and the May natural gas contract was down four cents at US$2.69 per mmBTU.
The June gold contract was up US$12.30 at US$1,790.70 an ounce and the May copper contract was up seven cents at US$4.28 a pound.
This report by The Canadian Press was first published April 21, 2021
