Glacier FarmMedia – The Canadian dollar dipped again on Friday, after Statistics Canada reported the country’s economy stumbled in August.
The loonie declined to US$0.7134 or US$1=C$1.4018, compared to US$0.7149 or US$1=C$1.3987 on Thursday. StatCan reported that Canada’s economy shrank by 0.3 per cent in August, compared to a 0.3 per cent expansion in July. StatCan also released a preliminary estimate of a 0.1 per cent gain for September, which would have Canada avoiding a recession.
The United States Dollar Index was up 0.24 of a point at 99.77.
Crude oil prices were up after a draw on U.S. stockpiles. West Texas Intermediate added US$0.32 per barrel at US$60.89. Brent crude oil was up US$0.07/barrel at US$65.07.
The TSX/S&P Composite Index rose 81.76 points to close at 30,260.74.
Gold lost US$5.90 per ounce at US$4,010.00.
