By Glen Hallick
Glacier FarmMedia – The Canadian dollar was virtually unchanged on Tuesday morning, as losses in its United States counterpart were balanced off by lower crude oil prices.
As of 8:38 am CDT, the Canadian dollar was at US$0.7368 or US$1=C$1.3572 compared to Monday’s close of US$0.7367 or US$1=C$1.3574.
On the United States Dollar Index, the greenback fell 0.566 of a point at 98.355.
Benchmark crude oil prices continued to decline on Tuesday morning, following comments from President Donald Trump that the Middle East war will soon end because U.S. and Israeli forces have made significant progress against Iran. Also, G7 energy ministers are set to meet today in Paris to discuss the possible release of up to 400 million barrels from strategic oil reserves.
West Texas Intermediate was down US$5.60 at US$89.17 per barrel and Brent crude gave up US$6.73 at US$92.23.
In Tuesday morning activity, the TSX/S&P Composite Index bumped up 82.81 points at 33,272.13.
Gold advanced US$127.90 at US$5,231.60 per ounce.
