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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, June 21 (MarketsFarm) The Canadian dollar was steady on Friday morning, as oil prices continue to rise over tension between the United States and Iran.

At 8:45 CDT, the Canadian dollar was at US$0.7575 or C$1.3201, which compares with Thursday’s North American close of US$0.7581 or C$1.3191.

Iran shot down a United States military drone on Thursday, which stoked tensions between the two countries. U.S. President Donald Trump approved military strikes against Iran on Friday, but called them off at the last minute.

Brent Crude oil prices hovered around US$65 on Friday morning due to worries of further military conflict disrupting crude exports from the region. West Texas Intermediate prices were in the US$57 range, up 11 cents.

The TSX dropped at 8:45 CDT, down 27.21 points at 16,547.62. The S&P 500 Index was up 27.72 points to hit 2,954.18. Similarly, the Dow Jones jumped 249.17 points at 26,753.17. The NASDAQ gained 64.02 to hit 8,051.34.

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Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

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