The loonie dropped 0.19 of a cent to
The U.S. dollar had also picked up strength earlier in the morning after data showed that German business confidence fell for a third consecutive month amid ongoing concerns about the economic impact of the crises in
The Ifo institute said its closely watched business confidence index, based on responses from some 7,000 companies, fell to 108 points in July from 109.7 points in June. It was a worse showing than economists had expected.
Businesses’ assessment of their current situation and of the outlook for the next six months both fell.
It is a very heavy week coming up for U.S. economic data with the latest reading on consumer confidence on Tuesday, U.S. second-quarter gross domestic product and an interest rate decision by the Federal Reserve on Wednesday, while the week ends with the
Geopolitical concerns also cast a shadow over markets ahead of the weekend as Israeli forces continued to pound targets in the
Meanwhile, the Ukrainian army on Friday claimed that soldiers came under artillery fire from the Russian side of the border overnight and were attacked by rebels in several other places in the restive east.
International observers from the
On the commodity markets, September crude on the
August gold gained
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