By Glen Hallick
Glacier FarmMedia – The Canadian dollar gave up a quarter cent on Friday, weighed down by two domestic reports and a sharp hike in the United States dollar.
Statistics Canada reported on Friday, that Canada’s gross domestic product saw no overall growth in November after a 0.3 per cent loss in October. StatCan’s preliminary estimate called for 0.1 per cent growth in December.
The Canadian Department of Finance said on Friday that the federal government ran up a deficit of C$26.4 billion during the first eight months of the 2025/26 fiscal year.
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Canadian Dollar and Business Outlook: Loonie dips
By Glen Hallick Glacier FarmMedia – The Canadian dollar eased back on Friday morning due to gains in the United…
The loonie finished at US$0.7374 or US$1=C$1.3562 compared to Thursday’s finish of US$0.7399 or US$1=C$1.3515.
On the U.S. Dollar Index, the greenback jumped 0.838 of a point at 96.975.
Benchmark crude oil prices were mixed on Friday, as the U.S. and Iran dialed down the growing tensions between them.
West Texas Intermediate added 43 cents at US$65.85 per barrel, while Brent crude shed two cents at US$70.69.
The TSX Composite Index fell hard on Friday, after setting two new record high closes this week. The TSX plummeted 1,092.61 points to finish at 31,923.52.
Gold tumbled as well, dropping US$495.20 at US$4,859.60 per ounce.
