Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 30 (MarketsFarm) – The Canadian dollar was slightly higher on Friday morning, after Statistics Canada announced the country’s gross domestic product rose for an 10th consecutive month.
As of 8:31 CDT, the Canadian dollar was at US$0.8147 or C$1.2274 compared to Thursday’s close of US$0.8135 or C$1.2292.
Statistics Canada said GDP increased by 0.4 per cent February and is poised to rise by 0.9 per cent in March. At the current pace the Canadian economy could return to pre-pandemic levels before the end of the year, according to the federal agency.
On the United States Dollar Index, the greenback was up 0.252 at 90.845 points.
Benchmark crude oil prices were lower Friday morning as the surge in COVID-19 cases India threatens that country’s demand for oil.
Brent crude oil lost US$1.25 at US$67.31 per barrel. West Texas Intermediate (WTI) retreated US$1.48 at US$63.53/barrel. Western Canadian Select (WCS) dropped US$1.44 at US$51.88/barrel.
At the opening the TSX/S&P Composite Index was down 71.87 points at 19,184.05.
Gold was up US$2.30 at US$1,770.60 per ounce.
