Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 29 (MarketsFarm) – The Canadian dollar was a relatively steady on Friday morning, as the United States dollar gain some strength, but that was tempered by higher crude oil prices.
Also, Statistics Canada reported on Friday that the country’s economy was flat in May and that its projection for June is a 0.1 per cent increase.
As of 8:36 am CDT, the Canadian dollar was at US$0.7788 or C$1.2844, compared to Thursday’s close of US$0.7791 or C$1.2835.
On the United States Dollar Index, the greenback added 0.159 of a point at 106.395.
Benchmark crude oil prices were stronger on Friday morning as tight supplies outweighed concerns about a global recession.
West Texas Intermediate (WTI) jumped US$3.54 at US$99.96 per barrel. Brent crude oil increased US$3.06 at US$110.20 per barrel. Western Canadian Select (WCS) advanced US$2.67 at US$78.56 per barrel.
At the open, the TSX/S&P Composite Index rose 110.13 points at 19,566.84.
Gold was up US$4.60 at US$1,773.80 per ounce.
