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Canadian Dollar and Business Outlook: Canola, crude oil weaken

| 1 min read

Glacier FarmMedia | MarketsFarm – The Canadian dollar fell sharply on Friday morning.

The loonie was at US$0.6921 or US$1=C$1.4449 as of 8:35 a.m. CST, compared to Thursday’s close at US$0.6950 or US$1=C$1.4388. The United States Dollar Index gained 0.43 of a point at 109.39.

Crude oil was lower as the Israel-Hamas ceasefire outweighed sanctions against Russia. Brent crude oil dropped US$0.55 at US$80.74 per barrel. West Texas Intermediate (WTI) dipped US$0.39 at US$78.29/barrel.

The TSX/S&P Composite Index rose 117.74 points at 24,963.94.

Gold retreated US$13.40 per ounce at US$2,737.50.