Canadian Dollar and Business Outlook: Loonie eases back
Trading resumes following Christmas and Boxing Day
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar was a pinch lower on Friday morning as trading in the currency resumed following Christmas and Boxing Day.
As of 8:36 am CST, the loonie was at US$0.6943 or US$1=C$1.4403 compared to Tuesday’s close of US$0.6951 or US$1=C$1.4386. On the U.S. Dollar Index, the greenback slipped 0.118 of a point at 107.775.
Benchmark crude oil prices were modestly higher on Friday morning on expectations that China’s economy will begin to gain traction in 2025.
Brent crude oil added 79 cents at US$74.05 per barrel and West Texas Intermediate rose 82 cents at US$70.44.
Shortly after Friday’s open, the TSX/S&P Composite Index dipped 15.14 points at 24,831.68.
Gold lost US$25.00 at US$2,628.90 per ounce.
