Canadian Financial Close: Loonie keeps falling back

By Glen Hallick

Glacier FarmMedia – The Canadian dollar slipped below 72 U.S. cents at the close on Friday, as the currency continued its downward slide.

The loonie finished at US$0.7196 or US$1=C$1.3896 compared to Thursday’s finish of US$0.7212 or US$1=C$1.3866.

On the United States Dollar Index, the greenback remained on its upswing, tacking on 0.197 of a point at 98.885.

Benchmark crude oil prices were stronger on Friday, as supply out of Iran could be threatened by ongoing protests in the country.

West Texas Intermediate climbed US$1.04 at US$58.80 per barrel, while Brent crude also advanced US$1.04 at US$63.03.

The TSX Composite Index increased 234.29 points on Friday to close at 32,612.93, setting a new all-time record close for the second time this week.

Gold gained US$57.80 at US$4,518.50 per ounce.