WINNIPEG – The Canadian dollar continued to come down on Friday morning although crude oil prices were on the rise.
The loonie was at US$0.7353 or US$1=C$1.3600, down from US$0.7372 or US$1=C$1.3565 on Thursday.
The United States Dollar Index was up 0.13 points to 104.11. U.S. Federal Reserve chair Jerome Powell is expected to announce an extension on elevated benchmark interest rates in a speech at Jackson Hole, Wyo. later today.
Crude oil prices were up due to speculation about Powell’s speech. Brent crude oil added US$0.88 at US$84.24 per barrel. West Texas Intermediate (WTI) gained US$0.89 at US$79.94/barrel.
This morning, the TSX/S&P Composite Index nudged up 28.23 points to 19,804.06.
Gold shed US$6.00 per ounce to US$1,941.10.
