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Canadian Dollar and Business Outlook: Loonie, crude oil weaken

| 1 min read

Glacier FarmMedia | MarketsFarm – The Canadian dollar continued its recent roller-coaster ride on Friday morning.

The loonie was at US$0.7190 or US$1=C$1.3908 as of 8:32 a.m. CST, compared to US$0.7212 or US$1=C$1.3866 on Thursday. The United States Dollar Index added 0.18 of a point at 104.69.

Crude oil was lower after investors were unimpressed with China’s announced economic stimulus package. Brent crude oil declined US$0.97 at US$74.66 per barrel. West Texas Intermediate (WTI) lost US$1.10 at US$71.26/barrel.

The TSX/S&P Composite Index reversed 66.10 points at 24,779.83.

Gold was up US2.00 per ounce at US$2,707.80.