WINNIPEG – The Canadian dollar was in retreat on Wednesday morning.
The loonie was at US$0.7450 or US$1=C$1.3423, down from US$0.7493 or US$1=C$1.3345 at Tuesday’s close.
The Canadian Real Estate Association (CREA) announced today that January home sales were down three per cent from the previous month and down 37.1 per cent from January 2022, making it the worst-performing January since 2009.
Meanwhile, the United States Dollar Index jumped 0.77 of a point at 104.00.
Crude oil was lower on Wednesday as a rising greenback, inflation concerns and another build in U.S. crude oil inventories pressured prices. Brent crude oil was down US$0.62 to US$84.96 per barrel. West Texas Intermediate (WTI) dropped US$0.60 at US$78.46/barrel. Western Canadian Select (WCS) declined US$0.72 to US$59.99/barrel.
The TSX/S&P Composite Index lost 80.10 points to 20,624.69.
Gold plunged US$21.60 per ounce to US$1,843.80.
