The Canadian dollar continued its rise on Friday, as it rode hopes for a trade deal with the United States.
The loonie finished at US$0.7267 or US$1=C$1.3760 compared to Thursday’s close of US$0.7254 or US$1=C$1.3785. On the U.S. Dollar Index, the greenback shed 0.058 of a point at 98.755.
Canada-U.S. trade talks were in their final hours with good prospects for a deal before the midnight deadline. Should that not be met, President Donald Trump could slap 50 per cent tariffs on a wide array of imports from Canada.
Benchmark crude oil prices were mixed on Friday afternoon after Iranian President Masoud Pezeshkian alluded his country’s war with the U.S. should come to an end.
West Texas Intermediate dipped 17 cents at US$86.66 per barrel, and Brent crude nudged up 14 cents at US$93.92.
The TSX Composite Index advanced 254.81 points on Friday to close at 36,620.23.
Gold climbed US$107.60 at US$4,679.00 per ounce.
