Glacier FarmMedia — The Canadian dollar was weaker on Friday in relatively quiet trade, with markets in the United States closed for Independence Day.
The Canadian dollar settled at US$0.7350 or US$1=C$1.3605, which compares with Thursday’s close of US$0.7366 or US$1=C$1.3575.
Uncertainty over U.S. trade policies remained a feature in the background. President Donald Trump said tariffs anywhere from 10 to 70 per cent would be imposed on many countries soon, with his self-imposed July 9 deadline for reaching deals fast approaching.
The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) dropped to 45.6 in June, from 46.1 in May. That marked the lowest level since the COVID-19 pandemic, with any reading below 50 signalling a decline in manufacturing output.
Crude oil was weaker, with West Texas crude oil down by 0.75 per cent at US$66.50 per barrel.
The TSX Composite Index was up 1.90 points to close at 27,036.16 points.
