Glacier FarmMedia — The Canadian dollar stayed put on Friday, maintaining its 0.24 U.S. cent gain from the previous week.
The loonie closed at US$0.7272 or US$1=C$1.3751 on Friday, compared to US$0.7271 or US$1=C$1.3753 on Thursday. Statistics Canada reported this morning that the country’s economy shed 41,000 jobs in July, but the unemployment rate was unchanged at 6.9 per cent. The declines were driven by job losses for people aged 15 to 24.
The United States Dollar Index declined 0.13 of a point at 98.27.
Crude oil prices were down in anticipation of Russian President Vladimir Putin meeting with U.S. President Donald Trump in the coming days.
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Canadian dollar and business outlook
Glacier FarmMedia — The Canadian dollar was slightly softer Friday morning. At 9:15 a.m. CDT the Canadian dollar was trading…
September West Texas Intermediate lost US$0.41 per barrel at US$63.47. October Brent crude oil dipped US$0.19/barrel at US$66.24.
The TSX/S&P Composite Index showed little movement with a loss of 2.59 points to close at 27,758.68.
Gold added US$0.40 per ounce at $3,454.10 after a roller-coaster day in which the U.S. government said it would implement 39 per cent import tariffs on one-kilo and 100-ounce gold bars. Prices approached record highs until the Trump administration called the tariffs “misinformation” and said it would issue a clarification.
