By MarketsFarm
WINNIPEG, May 12 (MarketsFarm) – The Canadian dollar continued to pull back on Friday morning as the United States dollar made small gains. However, upticks in crude oil prices tempered further declines.
As of 8:35 am CDT, the loonie was at US$0.7415 or C$1.3487, compared to Thursday’s close of US$0.7420 or US$1=C$1.3377. On the U.S. Dollar Index, the greenback added 0.207 of a point at 102.080.
Benchmark crude oil prices were slightly higher on Friday morning, as concerns over increased demand later this year were almost balanced off by weakening economies in the U.S. and China.
Brent crude oil nudged up 64 cents at US$75.62 per barrel and West Texas Intermediate (WTI) tacked on 66 cents at US$71.53.
Shortly after Friday’s open the TSX/S&P Composite Index added 65.47 points at 20,483.08.
Gold was up 80 cents at US$2,021.30 per ounce.
