Glacier FarmMedia – The Canadian dollar remained in retreat on Friday while crude oil prices climbed higher.
The loonie closed at US$0.7207 or US$1=C$1.3875, compared to US$0.7223 or C$1=C$1.3844 on Thursday. The United States Dollar Index gained 0.26 of a point at 100.16.
Despite U.S. President Donald Trump extending his deadline for Iran to re-open the Strait of Hormuz or face attacks on energy infrastructure to April 7, crude oil prices rose on Friday. Iran also turned away two Chinese oil tankers from the strait earlier today.
West Texas Intermediate gained US$5.53 per barrel at US$100.01. Brent crude oil jumped US$5.00/barrel at US$113.01.
The TSX/S&P Composite Index added 73.13 points at 31,960.65. However, U.S. stock markets showed heavy losses with the S&P 500 losing 108.31 points at 6,368.85, the Dow Jones shedding 793.47 points at 45,166.64 and Nasdaq falling 459.72 points at 20,948.36.
Gold added US$127.10 per ounce at US$4,503.40.
