Glacier FarmMedia – The Canadian dollar gained some ground on Friday and will end the week on a high note.
The loonie closed at US$0.7253 or US$1=C$1.3788, compared to US$0.7248 or US$1=C$1.3797 on Thursday. The dollar ended last week at US$0.7221 or US$1=C$1.3848.
The United States Dollar Index was up 0.30 of a point on Friday at 97.64.
Crude oil prices were down as demand concerns outweighed the Federal Reserve’s key interest rate cut.
West Texas Intermediate lost US$0.88 per barrel at US$62.69. Brent crude oil fell US$0.80/barrel at US$66.64.
The TSX/S&P Composite Index gained 314.83 points on Friday, hitting a new record close of 29,768.36.
Gold rose US$37.50 per ounce at US$3,715.80.
