Glacier FarmMedia – The Canadian dollar declined Wednesday morning along with crude oil after the United States sent a ceasefire plan to Iran.
The loonie was at US$0.7255 or US$1=C$1.3784 as of 8:35 a.m. CDT, compared to Tuesday’s close at US$0.7267 or US$1=C$1.3761. The United States Dollar Index was down 0.04 of a point at 99.39.
Crude oil prices continued to pull back after Iran said on Wednesday it received a 15-point plan from the U.S. through Pakistan towards a ceasefire. However, Iran resumed its attacks on its Middle Eastern neighbours and the U.S. is still sending additional soldiers to the area.
West Texas Intermediate dropped US$4.64 at US$87.71 per barrel. Brent crude oil retreated US$5.33 at US$99.16/barrel.
The TSX/S&P Composite Index reacted well, gaining 489.52 points at 32,431.11.
Gold soared by US$169.90 per ounce at US$4,571.90.
