Canadian Financial Close: C$ ends steady Wednesday

Glacier FarmMedia — The Canadian dollar was steady on the day at Wednesday’s close, recovering from three-week lows relative to its United States counterpart earlier in the session.

The Canadian dollar settled at US$0.7293 or US$1=C$1.3712, which compares with Tuesday’s close of US$0.7294 or US$1=C$1.3710.

The U.S. dollar was broadly weaker internationally amid reports President Donald Trump was getting closer to firing Federal Reserve chair Jerome Powell.

The income gap between the highest and lowest income households in Canada reached a record high in the first quarter of 2025 at 49.0 percentage points, reported Statistics Canada. The income gap is defined as the difference in the share of disposable income between households in the top 40 per cent of the income distribution and the bottom 40 per cent. The income gap has increased each year following the onset of the COVID-19 pandemic.

Crude oil was steady, with West Texas crude oil up by 0.23 per cent at US$66.67 per barrel.

The TSX Composite Index rose 98.83 points to close at 27,152.97 points.

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