Glacier FarmMedia – The Canadian dollar took a tumble on Wednesday due to a stronger United States dollar and weaker crude oil prices.
The loonie declined to US$0.7123 or US$1=C$1.4040, compared to US$0.7144 or US$1=C$1.3997 on Tuesday.
The United States Dollar Index was up 0.65 of a point at 100.20. The U.S. Labor Department confirmed earlier today it will not publish an October jobs report due to the federal government shutdown.
Crude oil prices pulled back on fears of oversupply. West Texas Intermediate lost US$1.24 per barrel at US$59.50. Brent crude oil lost US$1.32/barrel at US$63.56.
The TSX/S&P Composite Index rose 241.95 points to close at 30,278.41. The S&P 500, Dow Jones and Nasdaq also closed higher on Wednesday, but Nvidia will release its earnings report very soon, and that could dictate where the stock market goes on Thursday.
Gold added US$5.80 per ounce at US$4,072.30.
