By MarketsFarm
WINNIPEG, Sept. 29 (MarketsFarm) – The Canadian dollar was higher on Friday morning, benefitting from a drop in the United States dollar and an upswing in crude oil prices.
As of 8:41 am CDT, the loonie was at US$0.7425 or C$1.3465, compared to Thursday’s close of US$0.7411 or US$1=C$1.3493. On the U.S. Dollar Index, the greenback gave up 0.323 of a point at 105.610.
Benchmark crude oil prices were modestly higher on Friday morning as Russia pressed ahead with its plan for near zero fuel exports.
Brent crude oil tacked on 22 cents at US$95.60 per barrel, and West Texas Intermediate also gained 22 cents at US$91.93, while Western Canadian Select rose US$1.09 US$75.27.
Statistics Canada reported on Friday that the country’s economic growth in July was essentially flat. Preliminary data for August pointed to a slight expansion of 0.1 per cent.
Shortly after Friday’s open the TSX/S&P Composite Index was up 39.89 points at 19,630.63.
Gold added US$13.10 at US$1,891.70 per ounce.
