TORONTO - The Canadian dollar was lower Friday as the U.S. dollar strengthened after a report on the American economy was better than expected. The loonie lost 0.33 of a cent to 100.28 cents US after a report showing U.S. economic growth picked up momentum in the third quarter. The U.S. gross domestic product rose at a rate of two per cent in the third quarter, better than the 1.8 per cent rise that economists expected. It was also an improvement from the tepid 1.3 per cent growth posted for the second quarter. Oil prices moved into positive territory following the release of the report with the December crude contract on the New York Mercantile Exchange ahead 22 cents to US$86.27 a barrel. Still, crude has fallen more than seven per cent this week amid data showing much higher than expected inventories. Metal prices also improved with December copper reversing early losses to gain one cent to US$3.56 a pound. Copper, viewed as an economic barometer, has tumbled almost 20 cents in the past week on worries about a slowing global economy. December bullion lost $4.50 to US$1,708.50 an ounce.

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