Glacier FarmMedia MarketsFarm – The Canadian dollar declined on Tuesday.
The loonie was at US$0.7365 or US$1=C$1.3578, lower than Monday’s close of US$0.7385 or US$1=C$1.3541. The Bank of Canada (BoC) will announce its key interest rate decision on Wednesday with many expecting the central bank to leave the rate unchanged.
The United States Dollar Index was up 0.05 of a point to 103.76.
Crude oil prices were higher after Saudi Arabia said it will honour OPEC+’s plans for supply cuts. Brent crude oil was up US$0.67 at US$78.70 per barrel. West Texas Intermediate (WTI) gained US$0.70 at US$73.74/barrel.
The TSX/S&P Composite Index retreated 22.38 points at 20,387.83.
Gold added US$1.30 at US$2,043.50 per ounce.
