By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar bumped up on Tuesday, supported by declines in the United States dollar and despite sharp losses in crude oil.
The loonie closed at US$0.7274 or US$1=C$1.3748 compared to Monday’s close of US$0.7262 or US$1=C$1.3770. On the U.S. Dollar Index, the greenback was down 0.107 of a point at 97.850.
Benchmark crude oil prices were weaker on Tuesday, hitting levels unseen since early 2021 due to ample global supplies.
West Texas Intermediate fell US$1.69 at US$55.13 and Brent crude retreated US$1.75 at US$58.81 per barrel.
The TSX Composite Index was lower on Tuesday, dropping 219.51 points at 31,263.93.
Gold gave up US$3.80 at US$4,331.40 per ounce.
