Loonie Rises as Canada Economy Shows Strong Growth

The Canadian dollar ended the week stronger than it started.

At 8:45 a.m. CDT, the loonie was trading at US$0.7219 or US$1 = C$1.3852, up from US$0.7214 or US$1 = C$1.3861 earlier in the week.

This uptick in value comes as Canada's economy showed a strong second quarter growth rate of 3.3 per cent, according to Statistics Canada.

However, not all markets were up this week. Crude oil prices took a hit due to reduced demand outweighing tighter global supplies.