By Glen Hallick
Glacier FarmMedia – The Canadian dollar nudged up on Friday, making its first positive close in more than a week.
Statistics Canada reported on Friday that December retail sales were down 0.4 per cent at C$70 billion. Also, StatCan said the industrial product price index rose 2.7 per cent in January, and the raw materials price index grew 7.7 per cent last month.
The loonie finished at US$0.7305 or US$1=C$1.3689 compared to Thursday’s close of US$0.7301 or US$1=C$1.3696.
In a 6-3 decision, the Supreme Court of the United States ruled that President Donald Trump exceeded his authority under to impose many of his tariffs. However, Trump lashed out at the SCOTUS and boasted he will slap new 10 per cent levies using a different law.
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By Glen Hallick Glacier FarmMedia – The Canadian dollar was virtually unchanged on Friday morning, getting little direction from its…
On the U.S. Dollar Index, the greenback lost 0.205 of a point at 97.650.
Benchmark crude oil prices were virtually unchanged on Friday, as the SCOTUS ruling thwarted increases from rising tensions between Iran and the U.S.
West Texas Intermediate shed four cents at US$66.39 per barrel, and Brent crude tacked on three cents at US$71.69.
The TSX Composite Index rose 222.53 points on Friday to finish at 33,817.51, to set a third consecutive new record high close this week.
Gold advanced US$118.60 at US$5,116.00 per ounce.
