Canadian Dollar and Business Outlook: Is loonie’s slide beginning to peter out?
Revamped Trudeau cabinet this morning
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar was relatively steady on Friday morning, as Prime Minister Justin Trudeau will attempt to stabilize his minority government by shuffling his cabinet this morning.
As of 8:37 am CST, the loonie was at US$0.6956 or US$1=C$1.4374 compared to Thursday’s close of US$0.6959 or US$1=C$1.4380. On the U.S. Dollar Index, the greenback dropped 0.377 of a point at 107.775.
Benchmark crude oil prices were lower on Friday morning, as global demand is expected to slow in 2025.
Brent crude oil gave up 53 cents at US$72.35 per barrel and West Texas Intermediate lost 58 cents at US$68.80.
Shortly after Friday’s open, the TSX/S&P Composite Index was down 52.61 points at 24,361.33.
Gold added US$22.00 at US$2,630.10 per ounce.
