Canadian Dollar and Business: Loonies loses more ground
Small gains in US greenback, as crude oil slips
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was lower on Wednesday morning, as the United States dollar made a small gain and crude oil slipped back.
As of 8:36 am CDT, the loonie was at US$0.7278 or US$1=C$1.3737 compared to Tuesday’s close of US$0.7297 or C$1.3705. On the U.S. Dollar Index, the greenback bumped up 0.140 of a point at 105.440.
Benchmark crude oil prices were modestly lower on Wednesday morning due to larger U.S. inventories and that uptick in the U.S. dollar.
Brent crude oil eased back 63 cents at US$82.53 per barrel and West Texas Intermediate was down 59 cents at US$77.79.
Shortly after Wednesday’s open the TSX/S&P Composite Index dropped 234.00 points at 22,056.62.
Gold lost US$4.20 at US$2,320.00 per ounce.
