By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar edged lower on Friday morning, following the release of Statistics Canada’s report on the country’s gross domestic product.
As of 8:36 am CDT, the loonie was at US$0.7175 or US$1=C$1.3933 compared to Thursday’s close of US$0.7180 or US$1=C$1.3927. On the United States Dollar Index, the greenback gave up 0.210 of a point at 98.005.
StatCan said on Friday that Canada’s GDP grew 0.2 per cent in July, for the first increase in four months. The goods-producing sector led the way, improving 0.6 per cent in July.
Benchmark crude oil prices were modestly higher Friday morning, as supply problems continued in Russia due to Ukrainian attacks on its oil infrastructure. However, concerns regarding over supply globally tempered the gains.
West Texas Intermediate rose 43 cents at US$65.41 per barrel and Brent crude oil was up 35 cents at US$69.77 per barrel.
The TSX/S&P Composite Index advanced 117.31 points at 29,849.29. Gold added US$16.50 at US$3,787.60 per ounce.
