Canadian Dollar and Business Outlook: Loonie budges a little

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, June 22 (MarketsFarm) – The Canadian dollar eased back a little on Tuesday morning, as the United States dollar gained some ground and crude oil turned lower.

As of 8:41 CDT, the Canadian dollar was at US$0.8071 or C$1.2392 compared to Monday’s close of US$0.8080 or C$1.2377.

On the U.S. Dollar Index, the greenback nudged up 0.124 at 92.005 points.

Benchmark crude oil prices were slightly lower Tuesday morning, as the OPEC+ said the alliance will discuss a production increase next week.

West Texas Intermediate (WTI) was down 19 cents at US$73.47 per barrel. Brent crude oil lost 14 cents at US$74.76 per barrel. Western Canadian Select (WCS) gave up 31 cents at US$59.60 per barrel.

At the opening the TSX/S&P Composite Index pushed a little higher by 28.12 points at 20,184.48.

Gold was down US$3.60 at US$1,779.30 per ounce.

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