Canadian Dollar and Business Outlook: Loonie, crude oil ease off

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Published: July 25, 2023

WINNIPEG – The Canadian dollar took a step away from the 76 United States cent mark on Tuesday morning.

The loonie was at US$0.7575 or US$1=C$1.3201, down from US$0.7592 or US$1=C$1.3172 on Monday. The United States Dollar Index gained 0.22 points to 101.57.

Crude oil showed small declines despite tighter supply and China’s plans to implement measures to boost its economy. Brent crude oil was US$0.13 lower at US$82.61 per barrel. West Texas Intermediate (WTI) lost US$0.11 at US$78.63/barrel.

The TSX/S&P Composite Index shed 1.95 points to 20,580.17.

Gold dropped US$3.00 per ounce to US$1,959.20.

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