WINNIPEG – The Canadian dollar moved downwards on Friday morning after the release of a report from Statistics Canada (StatCan).
As of 8:39 a.m. CDT, the loonie was at US$0.7348 or US$1=C$1.3609, compared to US$0.7382 or US$1=C$1.3547 on Thursday. Earlier today, StatCan reported that Canada’s economy grew by 0.1 per cent in August while preliminary data estimated a 0.1 per cent rise in September. An estimate for third-quarter gross domestic product (GDP) indicated an annualized growth rate of 1.6 per cent, compared to 3.3 per cent in the second quarter.
The United States Dollar Index increased 0.10 of a point at 110.69.
Crude oil was lower on Friday morning due to a dim global economic outlook, especially for China. Brent crude oil declined US$1.20 per barrel to US$95.76. West Texas Intermediate (WTI) lost US$1.23 at US$87.85/barrel. Western Canadian Select (WCS) shed US$0.83 to US$59.44/barrel.
The TSX/S&P Composite Index added 3.12 points to 19,355.23.
Gold fell US$18.80 per ounce to US$1,646.80.
