Canadian Dollar and Business Outlook: Loonie slips lower
U.S. greenback on the rise
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar stepped back on Wednesday morning as its United States counterpart was higher.
As of 8:43 am CDT, the loonie was at US$0.7275 or US$1=C$1.3746 compared to Tuesday’s close of US$0.7293 or US$1=C$1.3712. On the U.S. Dollar Index, the greenback added 0.265 of a point at 97.75.
Benchmark crude oil prices were moderately higher on Wednesday morning, as the Iran-Israel ceasefire continued to hold and indications that U.S. demand remained strong.
Brent crude oil rose 71 cents at US$67.85 per barrel and West Texas Intermediate gained 74 cents at US$65.11.
The TSX/S&P Composite Index gave up 92.47 points shortly after at 26,626.15.
Gold lost US$6.70 at US$3,327.20 per ounce.
