Commodities
Loonie Dips Below 71 Cents Amid Crude Oil Correction
The Canadian dollar experienced a decline on Friday morning, dipping below 71 US cents. This downturn was partly attributed to the correction in crude oil prices. The loonie's value was at $0.7085 or $1=C$1.4114 as of 8:34 am CDT, compared to its previous close of $0.7101 or $1=C$1.4083.
The US Dollar Index also showed a slight decrease, down 0.02 of a point at 101.42. The ongoing conflict between the US and Iran continued to impact markets, with Brent crude oil experiencing a loss of $2.93 at $97.76/barrel after surpassing the $100/barrel mark on Thursday.
In contrast, the TSX/S&P Composite Index attempted to recover from Thursday's selloff, gaining 80.34 points at 35,273.00. Gold also added $0.30 per ounce at $4,050.50.