Canadian Dollar and Business Outlook: Rising greenback pushes loonie below 75 U.S. cents

By Glen Hallick

Glacier Farm Media MarketsFarm – The Canadian dollar fell back on Wednesday morning, due to a stronger United States dollar.

As of 8:35 am CST, the loonie was at US$0.7484 or C$1.3364, compared to Tuesday’s close of US$0.7510 or US$1=C$1.3316.

On the U.S. Dollar Index, the greenback gained 0.339 of a point at 102.230.

Benchmark crude oil prices edged up Wednesday morning, as Middle East tensions overshadowed the off-risk sentiment that crept into the market yesterday.

Brent crude oil added 95 cents at US$76.84 per barrel, while West Texas Intermediate rose 81 cents at US$71.19.

Shortly after Wednesday’s open the TSX/S&P Composite Index lost 68.18 points at 20,803.96.

Gold dropped US$29.30 at US2,044.10 per ounce.

explore

Stories from our other publications