WINNIPEG – The Canadian dollar was inching its way closer to 75 United States cents on Friday morning.
The loonie was at US$0.7498 or US$1=C$1.3337, up from US$0.7491 or US$1=C$1.3349 at Thursday’s close.
The U.S. Dollar Index was up 0.27 of a point at 102.11.
Crude oil continued to rally as optimism over Chinese demand outweighed recession fears. Brent crude oil was up US$1.30 to US$88.77/barrel. West Texas Intermediate (WTI) gained US$1.23 at US$82.24/barrel. Western Canadian Select (WCS) was up US$0.87 to US$58.55/barrel.
The TSX/S&P Composite Index retreated 19.17 points to 20,681.33.
Gold declined US$1.50 per ounce to US$1,945.20.
