Canadian Dollar and Business Outlook: Loonie virtually unchanged
Little movement as well in US$, crude oil
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was holding firm on Tuesday morning, seeing a very small uptick.
As of 8:37 am CST, the loonie was at US$0.7402 or US$1=C$1.3511 compared to Monday’s close of US$0.7399 or C$1.3515. On the U.S. Dollar Index, the greenback was standing pat with a dip of 0.006 of a point at 103.745.
Benchmark crude oil prices bumped up on Tuesday morning, as Middle East tensions and OPEC+ supply cuts outweighed pressure from increased production by countries outside of the alliance.
Brent crude oil gained 32 cents at US$82.85 per barrel, while West Texas Intermediate added 46 cents at US$78.04.
Shortly after Tuesday’s open the TSX/S&P Composite Index rose 9.14 points at 20,333.45.
Gold added US$5.20 at US2,044.10 per ounce.
