By MarketsFarm
WINNIPEG, Sept. 13 (MarketsFarm) – The Canadian dollar was weaker Friday morning, on a Statistics Canada report that said household debt has hit record levels.
As of 9:20 CDT, the Canadian dollar was at US$0.7550 or C$1.3246. That compares to Thursday’s North American close of US$0.7573 or C$1.3205.
Statistics Canada reported on Friday that Canadian household debt reached the record level of 174.1 per cent in the second quarter. The Bank of Canada said it’s concerned that lower mortgage rates will increase the household debt burden.
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Crude oil prices were mixed on Friday morning as easing Middle East tensions saw slight declines in Brent and West Texas Intermediate (WTI) prices. Meanwhile Western Canadian Select (WCS) crude was slightly up.
Brent crude was down 18 cents at US$60.20, WTI crude oil was down 25 cents at US$54.84 per barrel and WCS was up 31 cents at US$43.33 per barrel.
At the start of trading on Friday, the TSX/S&P Composite Index was up 82.60 points at 16,725.88. The TSX has been reaching record highs over the last two days with mining companies providing strength.
Gold was up US$4.20 at US$1,511.60 per ounce.
