Loonie Stays Steady Amid Global Market Volatility

The Canadian dollar remained steady on Friday, despite movements in its US counterpart and crude oil prices. The loonie finished at US$0.7020 or US$1=C$1.4246 compared to Thursday's close of US$0.7021 or US$1=C$1.4243.

The US Dollar Index retreated by 0.208 points, while the TSX Composite Index advanced 347.89 points to close at 35,502.65. In contrast, crude oil prices were mixed, with West Texas Intermediate losing US$1.41 at US$91.46 per barrel.

Brent crude, however, added 53 cents to reach US$102.84 per barrel, potentially influenced by reports of Saudi Arabia preparing to launch an offensive against Houthi rebels in Yemen.