Canadian Dollar and Business Outlook: Loonie steady going into Friday

By MarketsFarm

WINNIPEG, July 19 (MarketsFarm) – The Canadian dollar was steady Friday morning, as crude oil prices were making small gains.

As of 8:50 CDT, the Canadian dollar was at US$0.7649 or C$1.3072. That compares to Thursday’s North American close of US$0.7652 or C$1.3069.

Crude oil prices were up Friday morning, as tensions between the United States and Iran increased over U.S. President Donald Trump’s assertion the U.S. Navy downed an Iranian drone over the Strait of Hormuz.

West Texas Intermediate crude oil was up 22 cents at US$55.52 per barrel, and Brent crude oil gained 36 cents at US$62.29 per barrel.

At the start of trading the TSX/S&P Composite Index was up 74.82 points at 16,569.05 points.

Gold was up US$8.40 at US$1,436.50 per ounce.

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