Glacier FarmMedia | MarketsFarm – The Canadian dollar was unchanged on Friday but ended the week more than four-tenths of a United States cent lower.
The loonie ended the day at US$0.7308 or US$1=C$1.3683. U.S. President Donald Trump threatened 35 per cent tariffs on Canadian imports, excluding those from the energy sector and those already covered by the Canada-U.S.-Mexico Agreement (CUSMA) starting Aug. 1. Statistics Canada reported this morning that the country added 83,100 jobs in June, exceeding expectations and reducing the unemployment rate by one-tenth of a point at 6.9 per cent.
The U.S. Dollar Index was up 0.17 of a point at 97.82.
Benchmark crude oil prices surged on Friday amidst U.S. tariffs and possible U.S. sanctions on Russia. The International Energy Agency also reported that global supply was tighter than it looked. West Texas Intermediate spiked US$2.15 per barrel at US$68.72. Brent crude oil rose US$2.03/barrel at US$70.67.
The TSX/S&P Composite Index shed 59.05 points at 27,023.25.
Gold jumped US$43.90 per ounce at $3,369.60.
