WINNIPEG – After plunging to its lowest point since November 2020, the Canadian dollar was exploring further depths on Friday morning.
As of 8:39 a.m. CDT, the loonie was at US$0.7518 or US$1=C$1.3301, compared to US$0.7576 or US$1=C$1.3200 on Thursday. The United States Dollar Index jumped 0.31 of a point at 110.05, ahead of the Federal Reserve’s next policy meeting on Sept. 20 and 21 where there is expected to be another raise to the key interest rate.
Despite global demand concerns, crude oil was mostly higher on Friday. Brent crude oil advanced US$1.52 per barrel to US$92.36. West Texas Intermediate (WTI) increased US$1.07 at US$86.17/barrel. Meanwhile, Western Canadian Select (WCS) was down US$0.27 to US$63.59/barrel.
The TSX/S&P Composite Index fell 241.56 points to 19,318.60.
Gold dropped US$8.00 per ounce to US$1,669.30.
