WINNIPEG – The Canadian dollar slipped back on Friday morning after reports of stagnant economic growth for the third quarter.
As of 8:46 a.m. CDT, the loonie was at US$0.8080 or US$1=C$1.2376, compared to Thursday’s close of US$0.8098 or US$1=C$1.2349. Statistics Canada announced Thursday morning that Canada’s economy only grew 0.4 per cent in August and 0.5 per cent for the third quarter, according to preliminary estimates. Meanwhile, the United States Commerce Department reported consumer spending rising 0.6 per cent in September and one per cent in August.
Benchmark crude oil prices were steady to lower early Friday. Brent crude oil gained one cent per barrel to US$84.33. Meanwhile, West Texas Intermediate (WTI) dropped US$0.42 to US$82.39/barrel. Western Canadian Select (WCS) fell US$0.83 to US$66.53/barrel.
The TSX/S&P Composite Index lost 80.81 points at 21,116.72.
Gold tumbled US$25.20 per ounce to US$1,777.40.
