Canadian Dollar and Business Outlook: Loonie slips, gold falls

Glacier FarmMedia | MarketsFarm — The Canadian dollar slipped below the 73 United States cent mark on Friday morning.

The loonie was at US$0.7298 or US$1=C$1.3702 as of 8:34 a.m. CDT, compared to Thursday’s close at US$0.7337 or US$1=C$1.3630.

The United States Dollar Index rose 0.43 of a point at 97.81.

Crude oil prices were higher as trade optimism outweighed the possible resumption of Chevron’s operations in Venezuela. Four OPEC+ delegates told Reuters the oil alliance is unlikely to alter its plans to raise output when the organization meets on Monday.

Brent crude oil was up US$0.28 per barrel at US$69.46/barrel. West Texas Intermediate advanced US$0.25 at US$66.28/barrel.

The TSX/S&P Composite Index added 32.55 points at 27,404.81.

Gold continued its slide, losing US$30.50 per ounce at $3,343.00.