Glacier FarmMedia – The Canadian dollar maintained its downward momentum on Friday morning, while crude oil prices were on the rise.
The loonie was at US$0.7213 or US$1=C$1.3864 as of 8:31 a.m. CDT, compared to Thursday’s close at US$0.7223 or US$1=C$1.3844. The United States Dollar Index was up 0.12 of a point at 100.02.
Crude oil prices climbed despite U.S. President Donald Trump extending his deadline for Iran to open the Strait of Hormuz for another 10 days. Israel said its attacks on Iran will “escalate and expand”. The United Nations Security Council will meet to discuss the conflict this morning.
West Texas Intermediate advanced US$2.48 at US$96.96 per barrel. Brent crude oil added US$2.82 at US$110.83/barrel.
The TSX/S&P Composite Index dropped 116.41 points at 31,711.11.
Gold soared by US$44.50 per ounce at US$4,420.80.
