By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar pulled back on Friday morning as its United States counterpart regained some lost ground while crude oil continued to drop.
As of 8:41 am CDT, the loonie was at US$0.7044 or US$1=C$1.4209 compared to Thursday’s close of US$0.7108 or US$1=C$1.4069. On the U.S. Dollar Index, the greenback tacked on 0.090 of a point at 101.885.
Benchmark crude oil prices continued to fall back sharply on Friday morning, as China announced it will impose a 34 per cent tariff on goods imported from the U.S. effective April 10.
Brent crude oil lost US$4.87 at US$65.27 per barrel and West Texas Intermediate dropped US$5.19 at US$61.76.
Shortly after the TSX/S&P Composite Index opened, it plummeted 754.99 points at 23,580.78.
Gold fell US$31.00 at US$3,090.70 per ounce.
