WINNIPEG – The Canadian dollar took a step back on Tuesday morning.
The loonie was at US$0.7475 or US$1=C$1.3378, down from US$0.7495 or US$1=C$1.3343 at Monday’s close.
The United States Dollar Index was down 0.07 of a point at 103.27. The U.S. Bureau of Labor Statistics reported today that the annual inflation rate declined by 0.1 of a point to 6.4 per cent in January. However, the costs of living, shelter, food and gasoline all increased during the month.
Crude oil took a tumble on Tuesday after the U.S. was required to release more inventory from its crude oil stockpiles. Brent crude oil fell US$1.85 to US$84.76 per barrel. West Texas Intermediate (WTI) dropped US$1.99 at US$78.15/barrel. Western Canadian Select (WCS) declined US$0.70 to US$60.29/barrel.
The TSX/S&P Composite Index lost 87.31 points to 20,614.92.
Gold shed US$9.10 per ounce to US$1,854.40.
