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Canadian Dollar and Business Outlook: Loonie down, crude oil rebounds

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Glacier FarmMedia MarketsFarm – The Canadian dollar continued to show weakness on Tuesday.

The loonie was at US$0.7470 or US$1=C$1.3387, down from Monday’s close of US$0.7478 or US$1=C$1.3372. The United States Dollar Index was up 0.17 of a point to 102.38.

Crude oil prices underwent a correction on Tuesday, but not enough to recover their losses from Monday. Brent crude oil gained US$1.43 at US$77.55 per barrel. West Texas Intermediate (WTI) rose US$1.44 at US$72.21/barrel.

The TSX/S&P Composite Index lost 115.69 points at 20,959.22.

Gold made US$10.70 at US$2,044.20 per ounce.