WINNIPEG – The Canadian dollar was pulled lower on Tuesday morning, due to small losses in crude oil while the United States dollar inched up slightly.
As of 8:44 am CDT, the loonie was at US$0.7410 or C$1.3493, compared to Monday’s close of US$0.7423 or US$1=C$1.3471. On the U.S. Dollar Index, the greenback was up 0.025 of a point at 105.715.
Benchmark crude oil prices were softer on Tuesday morning, due to a off risk demeanor in the markets, however declines were tempered by tightening supplies.
Brent crude oil was down 17 cents at US$93.12 per barrel, and West Texas Intermediate shed 14 cents at US$89.54, while Western Canadian Select gave up 59 cents US$71.01.
Shortly after Tuesday’s open the TSX/S&P Composite Index lost 30.82 points at 19,769.79.
Gold dropped US$11.90 at US$1,924.70 per ounce.
