Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 23 (MarketsFarm) – The Canadian dollar remained on its downward slide Friday morning, as the United States dollar continued to surge upward.
As of 8:38 am CDT, the Canadian dollar was at US$0.7370 or C$1.3567, compared to Thursday’s close of US$0.7418 or C$1.3480.
On the U.S. Dollar Index, the greenback added 0.770 of a point at 111.875. Earlier, the dollar hit a new 52-week high of 112.105.
Benchmark crude oil prices were weaker on Friday morning, as fears of an imminent global recession grow.
Brent crude oil fell US$3.33 at US$87.13 per barrel. West Texas Intermediate (WTI) lost US$3.67 at US$79.82/barrel. Western Canadian Select (WCS) gave up US$4.05 at US$58.26/barrel.
Shortly after the opening, the TSX/S&P Composite Index plummeted 305.35 points at 18,697.33.
Gold dropped US$20.90 at US$1,660.20 per ounce.
