Glacier FarmMedia – The Canadian dollar ended the week on a high note, gaining nearly one United States cent during that time.
On Friday, the loonie settled at US$0.7282 or US$1=C$1.3732, compared to US$0.7247 or US$1=C$1.3798 on Thursday. On Jan. 16, the Bank of Canada’s closing exchange rate was US$0.7188 or US$1=C$1.3912.
The U.S. Dollar Index dropped 0.89 of a point at 97.47, supporting the loonie.
Crude oil prices increased after U.S. President Donald Trump threatened Iran, the outage at an oilfield in Kazakhstan continued and parts of the southern U.S. geared up for its worst winter storm in decades this weekend.
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Canadian Dollar and Business Outlook: Loonie, crude oil rise
Glacier FarmMedia – The Canadian dollar looked to end the week on a high note on Friday. The loonie…
West Texas Intermediate jumped US$1.90 per barrel at US$61.26. Brent crude oil rose US$2.06/barrel at US$66.12.
The TSX/S&P Composite Index added 142.28 points to close at 33,144.98.
Gold’s meteoric rise continued as it grew by US$68.40 per ounce at US$4,981.80, while a new all-time high was set earlier today at US$4,991.40.
