Canadian Dollar and Business Outlook: Loonie returns to 76 U.S. cents

By MarketsFarm

WINNIPEG, Sept. 15 (MarketsFarm) – The Canadian dollar was slightly higher on Tuesday morning, hovering around 76 United States cents as the U.S. Dollar Index was weaker.

As of 8:39 CDT, the Canadian dollar was at US$0.7602 or C$1.3155, compared to Monday’s close of US$0.7590 or C$1.3175.

Benchmark crude oil prices were higher Tuesday morning, as an improving Chinese economy underpinned the market. China reported its retail sales improved by 5.6 per cent in August. However fears of slowing global demand tempered further gains.

Brent crude oil was up 22 cents at US$39.83 per barrel. West Texas Intermediate (WTI) gained 24 cents at US$37.50 per barrel. Western Canadian Select (WCS) rose 25 cents at US$29.60 per barrel.

At the start of trading, the TSX/S&P Composite Index was up 112.28 points at 16,472.42.

Gold was up US$6.23 at US$1,963.09 per ounce.

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