Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Friday but still ended the week slightly higher than the last.
The loonie ended Friday at US$0.7297 or US$1=C$1.3704, compared to US$0.7337 or US$1=C$1.3630 on Thursday. The closing rate on July 18 was US$0.7289 or US$1=C$1.3719.
United States President Donald Trump told reporters Friday morning he wasn’t focused on a new trade deal with Canada and didn’t think one could be done in time before tariffs on Canadian goods come into effect on Aug. 1.
The U.S. Dollar Index was up 0.28 of a point at 97.65 as trade optimism continued.
Crude oil prices fell after the Trump administration gave the go-ahead to allow Chevron to resume operations in Venezuela.
West Texas Intermediate fell US$1.01 per barrel at US$65.02. Brent crude oil retreated US$0.87/barrel at US$68.31.
The TSX/S&P Composite Index jumped 122.09 points at 27,494.35, but not before setting a new all-time high of 27,561.03 points earlier in the day.
Gold fell US$35.70 per ounce at $3,337.80.
