WINNIPEG – The Canadian dollar moved downward on Tuesday after a report showed an increase in Canada’s consumer debt.
As of 8:38 a.m. CDT, the loonie was at US$0.8268 or US$1=C$1.2095 on Tuesday, compared to US$0.8283 or US$1=C$1.2073 when markets closed on Monday. Earlier today, consumer credit reporting firm Equifax reported that Canadian consumer debt increased to C$2.1 trillion amidst a surge in mortgage borrowing while credit card balances were at their lowest level in six years.
Crude oil was mixed again on Tuesday. Brent crude declined US$0.35 per barrel to US$71.14. West Texas Intermediate (WTI) dropped US$0.22 to US$69.01/barrel. Western Canadian Select (WCS) gained US$0.04 to US$55.62/barrel.
The TSX/S&P Composite Index only increased 6.11 points to 20,035.30 on Monday morning.
Gold pulled back US$5.89 per ounce to US$1,893.32.
