Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on the U.S. currency.
The Canadian dollar settled at US$0.7289 or US$1=C$1.3720, which compares with Thursday’s close of US$0.7271 or US$1=C$1.3753.
The total value of investment in building construction was down by 2.2 per cent in Canada in May at C$21.8 billion, reported Statistics Canada. Investment in the residential sector was down 3.0 per cent while the non-residential sector dipped by 0.4 per cent.
Crude oil was softer, with West Texas crude oil down by 0.18 per cent at US$66.11 per barrel.
The TSX Composite Index lost 72.92 points, backing away from Thursday’s record high to settle at 27,314.01 points.
