WINNIPEG – The Canadian dollar was testing the downside on Tuesday morning after a large drop on Monday.
The loonie was at US$0.7306 or US$1=C$1.3687 on Tuesday morning, compared to Friday’s close of US$0.7396 or US$1=C$1.3520. While the Bank of Canada (BoC) was closed on Monday to mark the National Day For Truth And Reconciliation, trading in the dollar fell to US$0.7312 or US$1=C$1.3676 by mid-afternoon.
The United States Dollar Index moved up 0.22 of a point to 107.12, approaching its highest level in 11 months.
Crude oil was rebounding after prices dropped on Monday. Brent crude oil added US$0.14 at US$90.85 per barrel. West Texas Intermediate (WTI) rose US$0.53 at US$89.35/barrel.
The TSX/S&P Composite Index dropped 107.18 points at 19,070.00.
Gold lost US$7.20 at US$1,840.00 per ounce.
