By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar pulled back on Friday morning due to a strengthening United States dollar.
As of 8:46 am CDT, the loonie was at US$0.7308 or US$1=C$1.3687 compared to Thursday’s close of US$0.7321 or US$1=C$1.3659. On the U.S. Dollar Index, the greenback climbed 0.486 of a point at 99.190.
Statistics Canada reported on Friday that unemployment in May nudged up to seven per cent. Overall job growth last month was minimal, which was countered by a rising population.
Benchmark crude oil prices were slightly higher on Friday morning, following Thursday’s phone conversation between U.S. President Donald Trump and Chinese President Xi Jinping.
Brent crude oil tacked on 24 cents at US$65.58 per barrel and West Texas Intermediate bumped up 29 cents at US$63.66.
Shortly after the TSX/S&P Composite Index opened, it advanced 155.13 points at 26,497.42.
In choppy trading, gold was up US$1.20 at US$3,376.30 per ounce.
