By MarketsFarm
WINNIPEG, Sept. 1 (MarketsFarm) – The Canadian dollar fell back on Friday morning, pulled lower by a Statistics Canada report.
As of 8:51 am CDT, the loonie was at US$0.7373 or C$1.3563, compared to Thursday’s close of US$0.7390 or US$1=C$1.3531. On the U.S. Dollar Index, the greenback dipped 0.092 of a point at 103.495.
Statistics Canada reported the country’s economy contracted by an annualized rate of 0.2 per cent during the second quarter of this year.
Benchmark crude oil prices were higher on Friday morning, after Saudi Arabia reported its exports fell from 6.3 million barrels per day in July to 5.6 million in August, with the oil powerhouse stating it plans to further cut its production.
Brent crude oil gained US$1.09 at US$87.92 per barrel, West Texas Intermediate rose US$1.31 at US$84.94, and Western Canadian Select added US$1.36 at US$67.17.
Shortly after Friday’s open the TSX/S&P Composite Index advanced 158.66 points at 20,451.28.
Gold was up US$10.20 at US$1,976.10 per ounce.
