Canadian Dollar and Business Outlook: Loonie, unemployment rate steady

Glacier FarmMedia MarketsFarm – The Canadian dollar stayed relatively steady on Friday morning.

The loonie was at US$0.7279 or US$1=C$1.3739 as of 8:49 a.m. CDT, compared to US$0.7276 or US$1=C$1.3743 on Thursday. Statistics Canada reported on Friday the country lost 2,800 jobs in July, but the unemployment rate remained the same at 6.4 per cent.

The United States Dollar Index was up 0.01 of a point at 103.22.

Crude oil prices were undergoing a correction on Friday. Brent crude oil was down US$0.22 at US$78.94 per barrel. West Texas Intermediate (WTI) declined by US$0.15 at US$76.04/barrel.

The TSX/S&P Composite Index shed 94.29 points at 22,131.32.

Gold gained US$2.20 per ounce at US$2,465.50.