Canadian Dollar and Business Outlook: Loonie nudges up slightly

By Glen Hallick

Glacier Farm Media MarketsFarm – The Canadian dollar budged upward on Friday morning, amid a steady United States dollar and crude oil either side of unchanged.

As of 8:36 am CDT, the loonie was at US$0.7309 or US$1=C$1.3683 compared to Thursday’s close of US$0.7305 or US$1=C$1.3690. On the U.S. Dollar Index, the greenback was relatively steady at 105.570.

Benchmark crude oil prices were narrowly mixed on Friday morning, underpinned by increased tensions in the Middle East and larger-than-expected stocks in the U.S.

Brent crude oil dipped one cent at US$85.00 per barrel and West Texas Intermediate gained six cents at US$80.89.

Shortly after Friday’s open the TSX/S&P Composite Index rose 93.98 points at 22,036.15.

Gold climbed US$11.30 at US$2,347.90 per ounce.