WINNIPEG – The Canadian dollar has inched upwards after the release of economic data from Statistics Canada (StatCan).
The loonie was at US$0.7549 or US$1=C$1.3247, up from US$0.7544 or US$1=C$1.3255 on Thursday. StatCan reported earlier today that the country’s economy grew by 0.4 per cent in May, leaving the possibility open for another key interest rate hike by the Bank of Canada (BoC).
Canadian markets will be closed on July 3 for the Canada Day holiday.
The United States Dollar Index dropped 0.27 of a point at 103.07. U.S. markets will be closed on July 4 for the Independence Day holiday.
A decline in U.S. stockpiles is moving crude oil upwards. Brent crude oil was US$0.27 higher at US$74.61 per barrel. West Texas Intermediate (WTI) also added US$0.25 at US$70.11/barrel.
The TSX/S&P Composite Index jumped 119.05 points to 20,032.22.
Gold advanced US$0.60 per ounce to US$1,918.50.
