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Forex

Loonie Slips as Oil Prices Plummet

Guavy AI Editorial Team
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The Canadian dollar closed out the week on a disappointing note, losing ground against the US dollar.

The loonie finished at US$0.7070 or US$1=C$1.4145 on Friday, down from US$0.7074 or US$1=US$1.4136 on Thursday.

This represents a loss of 0.72 of a U.S. cent for the dollar over the course of the week.

Crude oil prices also took a hit, with West Texas Intermediate dropping to US$92.70 per barrel and Brent crude oil declining to US$104.66 per barrel.

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