WINNIPEG – The Canadian dollar made a slight dip on Tuesday morning.
As of 8:30 a.m. CDT, the loonie was at US$0.7903 or US$1=C$1.2654, compared to US$0.7913 or US$1=C$1.2637 when markets closed on Monday. The loonie had reached a three-week high on Monday.
Crude oil continues to rise due to firm demand and tight supply, despite reduced factory output in China caused by power outages. Brent crude oil gained US$0.59 per barrel to US$80.12. West Texas Intermediate (WTI) increased US$0.85 to US$76.30/barrel. Western Canadian Select (WCS) advanced US$0.55 to US$64.11/barrel.
The TSX/S&P Composite Index fell 123.97 points at 20,339.45 on Tuesday morning.
Gold also dropped US$16.70 per ounce to US$1,735.30.
