The Canadian dollar ended its up-and-down week by moving backwards despite supportive economic data from Statistics Canada.
The loonie finished at US$0.7200 or US$1=C$1.3888 on Friday, compared to US$0.7214 or US$1=US$1.3861 on Thursday.
StatCan reported today that Canada’s economy grew at an annualized rate of 3.3 per cent in the second quarter, compared to 0.3 per cent growth in the first.
The United States Dollar Index was up 0.51 of a point at 99.67.
Federal Reserve chairman Kevin Warsh said at a press conference today he has concerns over inflation and the central bank may need to raise key interest rates sooner than later.
Crude oil prices were slightly lower on Friday as less demand outweighed supply concerns.
West Texas Intermediate declined US$0.08 per barrel at US$83.45. Brent crude oil was down US$0.39/barrel at US$89.31.
The TSX/S&P Composite Index fell 280.33 points to close at 36,553.92.
Gold lost US$155.40 per ounce at US$4,508.60.
