Glacier FarmMedia – The Canadian dollar took another step back on Friday, resulting in a sharp weekly drop.
The loonie closed at US$0.7173 or US$1=C$1.3941, compared to US$0.7180 or US$1=C$1.3927 on Thursday. The closing price one week ago was US$0.7253 or US$1=C$1.3787.
Statistics Canada reported today that the country’s economy expanded by 0.2 per cent in July, the first increase in four months.
The United States Dollar Index was down 0.37 of a point on Friday at 98.18.
Crude oil prices were higher due to supply risks from Russia and a draw in U.S. stockpiles.
West Texas Intermediate gained US$0.33 per barrel at US$65.31. Brent crude oil rose US$0.35/barrel at US$69.77.
The TSX/S&P Composite Index added 29.30 points at 29,761.28. Gold jumped US$25.40 per ounce at US$3,796.50.
