Canadian Dollar and Business: Loonie inches up

By Glen Hallick

Glacier Farm Media MarketsFarm – The Canadian dollar was slightly higher on Friday morning, getting support from small declines in the United States dollar.

As of 8:35 am CDT, the loonie was at US$0.7274 or US$1=C$1.3746 compared to Thursday’s close of US$0.7265 or C$1.3764. On the United States Dollar Index, the greenback gave up 0.227 of a point at 105.755.

Benchmark crude oil prices were slightly lower on Friday morning, after Iran stated it would not retaliate for Israel’s drone strike.

Brent crude oil gave up 69 cents at US$86.42 per barrel and West Texas Intermediate lost 57 cents at US$82.16.

Shortly after Friday’s open the TSX/S&P Composite Index added 57.55 points at 21,765.99.

Gold was down US$2.80 at US$2,395.20 per ounce.