MONEY IN BRIEF

Currencies

These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Friday. Quotations in Canadian funds. Australia dollar Brazil real China renminbi Euro Hong Kong dollar India rupee Indonesia rupiah Japan yen Malaysia ringgit Mexico peso N.Z. dollar Norway krone Peruvian new sol Russia rouble Singapore dollar

South Africa rand

South Korean won Sweden krona Switzerland franc Taiwanese dollar Thailand baht Turkey lira U.K. pound U.S. dollar

Vietnam dong 0.9743 0.3478 0.1940 1.5392 0.1674 0.01911 0.000091 0.01176 0.3236 0.06903 0.8939 0.1605 0.4015 0.02071 0.9637 0.09785 0.001164 0.1482 1.3221 0.04295 0.03940 0.2744 1.7230 1.3142 0.000057

Financial highlights

Highlights at the close Friday at world financial market trading. Stocks:

S&P/TSX Composite Index - 16,435.46, down 107.55 points Dow - 25,058.12, down 6.38 points

S&P 500 - 2,801.83, down 2.66 points

Nasdaq - 7,820.20, down 5.10 points

Currencies:

Cdn - 76.09 cents US, up 0.65 of a cent

Pound - C$1.7230, unchanged Euro - C$1.5392, down 0.09 of a cent

Euro - US$1.1712, up 0.93 of a cent

Oil futures:

US$68.26, up two cents (September contract)

Gold futures:

US$1,231.10 per oz., up $7.10 (August contract)

Canadian Fine Silver Handy and Harman: daily quote unavailable from source; office closed on Fridays ( Thursday: $21.096 oz., $678.24 kg.)

The markets today

Stock indexes in Canada and the U.S. closed down Friday on geopolitical tensions, while the loonie surged higher after Statistics Canada said the inflation rate jumped in June. Data showed the country’s annual inflation rate rose to 2.5 per cent for the month, up from a 2.2 per cent reading in May to hit its highest mark in more than six years. A separate release showed retail trade expanded by two per cent in May, thanks to stronger sales at vehicle and auto parts dealers as well as gas stations. It marked a rebound from April, when sales contracted by 0.9 per cent. The combined indicators helped push the Canadian dollar up 0.65 of a US cent to average 76.09 cents US as it improves the chances of another rate hike, said Philip Petursson, Chief Investment Strategist at Manulife Investments.

Weakness in the U.S. dollar following President Donald Trump’s questioning of federal reserve rate decisions also helped the loonie, said Petursson. Trump’s comments on potentially more tariffs against Chinese goods also weighed on markets with both Toronto and New York markets down, though investors continue to struggle to decide how much weight to put on them, he said.

The S&P/TSX composite index closed down 107.55 points at 16,435.46 with all major indexes in the red. For the week the index was down 0.76 per cent as concerns about auto sector tariffs and slides in commodity prices put pressure on the index.