WINNIPEG – The Canadian dollar found its way back to the positive side of 78 United States cents on Tuesday.
As of 8:30 a.m. CDT, the loonie was at US$0.7813 or US$1=C$1.2799, compared to US$0.7795 or US$1=C$1.2829 on Friday. The Bank of Canada (BoC) did not report the exchange rate on Monday due to the Victoria Day holiday. The United States Dollar Index declined 0.10 of a point to 101.97.
Crude oil prices were steady to higher on Tuesday as tighter supply and heightened demand during the coming Memorial Day weekend in the U.S. were considered along with lower demand from China and recession fears. Brent crude oil increased US$0.11 per barrel to US$113.53. West Texas Intermediate (WTI) was unchanged at US$110.29/barrel. Meanwhile, Western Canadian Select (WCS) declined US$0.16 to US$95.49/barrel.
The TSX/S&P Composite Index added 31.01 points to 20,228.62.
Gold rallied US$11.90 per ounce to US$1,859.70.
