Canadian Dollar and Business Outlook: Slight dip for loonie
Despite upticks in crude oil
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar slipped back on Wednesday morning.
As of 8:35 am CST, the loonie was at US$0.7037 or US$1=C$1.4209 compared to Tuesday’s close of US$0.7046 or US$1=C$1.4193. On the United States Dollar Index, the greenback inched up 0.040 of a point at 106.995.
Benchmark crude oil prices were higher on Wednesday morning due to supply concerns in Russia.
Brent crude oil added 82 cents at US$76.66 per barrel and West Texas Intermediate gained 99 cents at US$72.84.
Shortly after the TSX/S&P Composite Index opened, it dropped 148.89 points at 25,499.95.
Gold inched up 40 cents at US$2,949.40 per ounce.
