WINNIPEG – The Canadian dollar jumped early Friday after the release of welcome economic news from Statistics Canada.
As of 8:41 a.m. CDT, the loonie was at US$0.7854 or US$1=C$1.2732, compared to US$0.7795 or US$1=C$1.2829 on Thursday. The national data agency reported that Canada’s economy grew for the 10th straight month, increasing 0.5 per cent in March after expanding 1.1 per cent in February. The preliminary data suggests 5.6 per cent growth in the first quarter, greater than expected.
After rallying to its highest level since 2002, the United States Dollar Index declined 0.37 of a point at 103.24.
Brent crude oil increased US$2.07 per barrel to US$109.66. West Texas Intermediate (WTI) added US$1.18 to US$106.54/barrel. Western Canadian Select (WCS) gained US$1.27 to US$93.55/barrel.
The TSX/S&P Composite Index declined 66.59 points to 21,054.47.
Gold rose US$17.80 per ounce to US$1,909.10.
