Loonie Falls Further as Crude Oil Prices Dip

The Canadian dollar continued its downward trend on Friday morning, adding to its multi-day retreat. The Loonie's value dropped to US$0.7211 or US$1=C$1.3866 as of 8:36 am CDT, down from Thursday's close of US$0.7235 or US$1=C$1.3822.

Meanwhile, crude oil prices also took a hit, with West Texas Intermediate falling by US$3.29 to US$99.19 per barrel and Brent crude pulling back by US$3.11 to US$104.52.

The TSX/S&P Composite Index was up 296.34 points on Friday morning at 35,802.62, while the Dow Jones dropped 316.56 points at 52,064.10 and the NASDAQ lost 171.62 points at 26,081.72.