Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 16 (MarketsFarm) – The Canadian dollar was lower on Friday morning, due to weakness in crude oil prices while the United States dollar was relatively steady.
As of 8:36 am CST, the loonie was at US$0.7312 or C$1.3677, compared to Thursday’s close of US$0.7331 or C$1.3640.
On the U.S. Dollar Index, the greenback nudged up 0.067 of a point at 104.270.
Benchmark crude oil prices were weaker on Friday morning, as the market grappled with a series of central bank interest rate hikes from Thursday.
Brent crude oil dropped US$2.67 at US$78.54 per barrel. West Texas Intermediate (WTI) declined US$2.45 at US$73.66/barrel. Western Canadian Select (WCS) lost US$1.99 at US$45.75/barrel.
Shortly after Friday’s open the TSX/S&P Composite Index dropped 147.16 points at 19,453.47.
Gold advanced US$6.40 at US$1,794.20 per ounce.
