Glacier FarmMedia | MarketsFarm – The Canadian dollar gained strength on Tuesday, closing at its highest level in 18 days.
The loonie ended Tuesday at US$0.7334 or US$1=C$1.3635, compared to US$0.7303 or US$1=C$1.3693 on Monday. Earlier today, Canadian Prime Minister Mark Carney briefed the premiers on ongoing trade negotiations with the United States, telling reporters that he’ll only accept “the best deal for Canada.”
The U.S. Dollar Index fell 0.46 of a point at 97.40 as U.S. President Donald Trump’s proposed tariffs overshadow the markets.
Crude oil prices slipped on Tuesday due to fears of softer demand and higher production later this year. The August West Texas Intermediate contract fell US$0.99 per barrel at US$66.21. The September Brent crude oil contract dropped US$0.39/barrel at US$68.82.
The TSX/S&P Composite Index added 47.43 points to close at 27,364.43.
Gold continued to surge, rising US$38.30 per ounce at $3,444.70.
