Canadian Dollar and Business Outlook: Loonie dips slightly
Markets closed tomorrow for New Year's
The Canadian dollar was a pinch lower on Tuesday morning as advances in the United States dollar and crude oil almost balanced off each other.
As of 8:37 am CST, the loonie was at US$0.6950 or US$1=C$1.4386 compared to Monday’s close of US$0.6955 or US$1=C$1.4379. On the U.S. Dollar Index, the greenback bumped up 0.127 of a point at 108.060.
Benchmark crude oil prices was posting small gains in light activity on Tuesday morning. Brent crude oil rose 23 cents at US$74.22 per barrel and West Texas Intermediate was up 29 cents at US$71.28.
Shortly after Tuesday’s open, the TSX/S&P Composite Index was up 87.46 points at 24,708.05.
Gold added US$6.10 at US$2,624.20 per ounce.
The markets in Canada and the U.S. will be closed Wednesday for New Year’s.
