By Glen Hallick
Glacier FarmMedia – The Canadian dollar eased back on Friday morning due to gains in the United States dollar and little movement in crude oil.
As well, Statistics Canada reported that Canada’s gross domestic product saw no overall growth in November after a 0.3 per cent loss in October. Preliminary estimates called for 0.1 per cent growth in December.
As of 8:46 am CST, the loonie was at US$0.7394 or US$1=C$1.3523, compared to Thursday’s close of US$0.7399 or US$1=C$1.3515.
On the U.S. Dollar Index, the greenback added 0.348 of a point at 96.485.
Benchmark crude oil prices were slightly higher on Friday morning, as tensions eased between the U.S. and Iran.
West Texas Intermediate nudged up 26 cents at US$65.68 per barrel and Brent crude tacked on nine cents at US$70.80.
In morning activity, the TSX/S&P Composite Index plummeted 571.95 points at 32,444.18.
Gold fell US$233.20 at US$5,121.60 per ounce.
