Loonie Strengthens on Positive Trade Talks with US

The Canadian dollar continued its upward trend on Friday morning, gaining strength from positive trade talks with the United States. As of 8:40 am CDT, the Loonie was at US$0.7275 or US$1=C$1.3746, surpassing Thursday's close of US$0.7254 or US$1=C$1.3785.

The positive outlook on trade talks between Canada and the U.S. is driving the Loonie's growth, with reports indicating that a deal is imminent before the midnight deadline.

Meanwhile, the U.S. Dollar Index was down 0.08 of a point at 98.705, while crude oil prices remained relatively unchanged, facing resistance after their recent upward spike. West Texas Intermediate nudged up 12 cents at US$86.95 per barrel and Brent crude gained 46 cents at US$94.24.