Glacier FarmMedia | MarketsFarm – The Canadian dollar resumed its downturn on Wednesday, moving closer to the 73 United States cent mark.
The loonie was at US$0.7305 or US$1=C$1.3689 as of 8:40 a.m. CDT, compared to Tuesday’s close at US$0.7312 or US$1=C$1.3677.
The United States Dollar Index added 0.02 of a point at 97.54. U.S. President Donald Trump sent letters to 14 countries outlining the tariff rates for their exports coming into the U.S. starting Aug. 1. Canada was not one of those countries and the July 21 deadline to reach a new deal with the U.S. remains. However, Trump announced plans on Tuesday to impose a 50 per cent tariff on copper imports, of which Canada is the U.S.’s second-largest supplier.
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Glacier FarmMedia | MarketsFarm – Mixed economic news did little to move the Canadian dollar in any direction on Friday morning….
Crude oil prices were down despite attacks by Houthi rebels on shipping vessels in the Red Sea as well as lower U.S. production reported by the Energy Information Administration.
Brent crude oil dropped US$0.49 per barrel at US$69.66/barrel. West Texas Intermediate lost US$0.56 at US$67.77/barrel.
The TSX/S&P Composite Index added 60.32 points at 26,963.89.
Gold declined US$10.50 per ounce at $3,306.40.
