Canadian Financial Close: Loonie down, records for TSX, gold

Glacier FarmMedia – The Canadian dollar was in reverse coming out of the Labour Day weekend.

The loonie closed at US$0.7252 or US$1=C$1.3789 on Tuesday, compared to US$0.7277 or US$1=C$1.3742 on Friday. The Bank of Canada did not publish a closing rate on Monday due to the holiday.

The United States Dollar Index was up 0.60 of a point at 98.37.

Crude oil prices jumped on Tuesday amid tensions between Russia and Ukraine. OPEC+ will meet this weekend to discuss October output, which many believe will be at similar levels to September. China and Russia agreed this morning to construct the Power of Siberia 2 natural gas pipeline.

October West Texas Intermediate rose US$1.64 per barrel at US$65.65. November Brent crude oil gained US$1.00/barrel at US$69.15.

The TSX/S&P Composite Index reached an all-time record of 28,617.61 points today before closing at 28,615.42, up 51.17 points from Friday.

Gold surpassed the US$3,600 per ounce mark for the first time earlier today before settling down to US$3,599, up US$82.90 from Friday.