Canadian Dollar and Business Outlook: Loonie rises over the weekend

Glacier FarmMedia | MarketsFarm – The Canadian dollar made gains on Monday morning as it inched closer to the 73 United States cent mark.

The loonie was at US$0.7290 or US$1=C$1.3717 as of 8:32 a.m. CDT, compared to Friday’s close at US$0.7270 or US$1=C$1.3756.

The U.S. Dollar Index was down 0.06 of a point at 99.05. Over the weekend, President Donald Trump said he would delay potential 50 per cent tariffs on goods from the European Union until July 9.

Despite Trump’s plans, crude oil prices were lower on Monday morning. Brent crude oil declined US$0.15 per barrel at US$64.63 per barrel and West Texas Intermediate was down US$0.21 at US$61.63/barrel.

The TSX/S&P Composite Index jumped 152.26 points at 26,032.21.

Gold lost US$27.50 per ounce at $3,338.30.