By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar stepped back on Friday, giving up nearly two-tenths of a United States cent.
The loonie finished at US$0.7312 or US$1=C$1.3676, compared to Wednesday’s close of US$0.7331 or US$1=C$1.3640.
The move came after U.S. President Donald Trump said he’s ending all trade talks with Canada “effective immediately” to show his disagreement with Ottawa’s digital services tax.
That saw the U.S. Dollar Index bump up 0.163 of a point at 96.925.
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Benchmark crude oil prices dipped on Friday, following news of OPEC+ planning to increase production in August.
Brent crude was down 33 cents at US$67.40 per barrel and West Texas Intermediate shed 81 cents at US$65.06.
Statistics Canada reported the country’s real gross domestic product dipped 0.1 per cent in April after tacking on 0.2 per cent in March.
The TSX Composite Index eased back 59.63 points on Friday, to close at 26,692.32.
Meanwhile, U.S. stocks reached all-time highs with the S&P 500 closing at 6,173.97 points, the Nasdaq at 20,273.46, and the Dow Jones at 43,819.27.
Gold dropped US$62.00 at US$3,286.00 per ounce.
