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Canadian Financial Close: Loonie rises higher, gold falls

| 1 min read

Glacier FarmMedia | MarketsFarm – The Canadian dollar continued its rise on Wednesday with its best close in nearly three weeks.

The loonie ended Wednesday at US$0.7348 or US$1=C$1.3609, compared to US$0.7334 or US$1=C$1.3635 on Tuesday.

The United States Dollar Index dropped 0.19 of a point at 97.20. U.S. President Donald Trump announced new trade deals with Japan, the Philippines and Indonesia.

Crude oil prices made small gains on Wednesday as a draw in U.S. stockpiles outweighed tariff concerns. West Texas Intermediate added US$0.13 per barrel at US$65.44. Brent crude oil advanced US$0.09/barrel at US$68.68.

The TSX/S&P Composite Index added 51.98 points to close at 27,416.41.

Gold tumbled US$44.30 per ounce at $3,399.40.