WINNIPEG – The Canadian dollar is looking to close the week on a high note.
As of 8:38 a.m. CDT, the loonie was at US$0.7716 or US$1=C$1.2960 on Friday, compared to US$0.7703 or US$1=C$1.2982 on Thursday. The United States Dollar Index was down 0.14 of a point at 104.29.
Crude oil prices are on track for its first consecutive weekly decline since April, but prices were rising on Friday morning. Brent crude oil added US$1.70 per barrel to US$111.75. West Texas Intermediate (WTI) was up US$1.39 at US$105.66/barrel. Western Canadian Select (WCS) jumped US$2.27 to US$88.58/barrel.
The TSX/S&P Composite Index rose 186.47 points to 18,903.59 as traders price in another key interest rate hike by the U.S. Federal Reserve by the end of the year.
Gold is down US$2.70 per ounce to US$1,827.10.
