Glacier FarmMedia – The Canadian dollar saw its highest close in nearly a month following welcomed economic data from Statistics Canada.
The loonie jumped to US$0.7154 or US$1=C$1.3979 on Friday, its highest close since Oct. 29, compared to US$0.7126 or US$1=C$1.4034 on Thursday. StatCan reported today that Canada’s economy grew at an annualized rate of 2.6 per cent in the third quarter, avoiding a recession mainly due to a surge in defence spending. Canada’s GDP was down a revised 1.8 per cent in the second quarter.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The Canadian dollar was higher on Friday morning, following the Statistics Canada…
The United States Dollar Index was down 0.15 of a point at 99.45. U.S. markets operated on limited hours on Friday, the day after Thanksgiving.
Crude oil prices were down amidst peace negotiations to end the Russia-Ukraine war and ahead of the OPEC+ meeting this weekend to discuss future output. West Texas Intermediate gave up US$0.10 per barrel at US$58.55. Brent crude oil dropped US$0.14/barrel at US$62.30.
The TSX/S&P Composite Index gained 186.07 points to close at 31,382.78, after it reached a new record high of 31,405.21 earlier in the day.
Gold rose US$54.10 per ounce at US$4,256.40.
