Canadian Dollar and Business Outlook: Loonie unchanged, crude oil lower

Glacier FarmMedia MarketsFarm – The Canadian dollar was steady on Wednesday morning.

The loonie was at US$0.7381 or US$1=C$1.3548 as of 8:30 a.m. CDT, the same as the Bank of Canada’s closing exchange rate on Tuesday.

The United States Dollar Index was down 0.16 of a point at 101.67.

Crude oil prices continued to hit new nine-month lows on Wednesday as reports said OPEC+ might delay its planned production increase in October. Brent crude oil dipped US$0.47 at US$73.28 per barrel. West Texas Intermediate (WTI) declined US$0.46 at US$69.88/barrel.

The TSX/S&P Composite Index lost 18.12 points at 23,024.33.

Gold was down US$4.40 per ounce at US$2,518.60.