By Glen Hallick
Glacier FarmMedia | MarketsFarm – The doldrums for the Canadian dollar continued on Friday morning with more declines.
As of 8:46 am CDT, the loonie was at US$0.7184 or US$1=C$1.3920 compared to Thursday’s close of US$0.7196 or US$1=C$1.3897. On the United States Dollar Index, the greenback bumped up 0.054 of a point at 98.565.
Benchmark crude oil prices nudged up on Friday morning, as efforts to resolve the Russian invasion of Ukraine have stalled.
West Texas Intermediate added 17 cents at US$63.69 per barrel and Brent crude oil rose six cents at US$67.73 per barrel.
U.S. Federal Reserve Chair Jerome Powell will address the Fed’s Jackson Hole economic forum at 9 a.m. CDT. It’s anticipated that Powell could indicate whether the central bank will cut or freeze its key interest rates next month.
The TSX/S&P Composite Index gained 105.47 points at 28,160.90.
Gold was down US$8.50 at US$3,373.10 per ounce.
