By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar held steady on Tuesday, benefitting from a weaker United States dollar while fending off pressure from lower crude prices.
The loonie closed at US$0.7090 or US$1=C$1.4104 compared to Monday’s close of US$0.7088 or US$1=C$1.4108. On the U.S. Dollar Index, the greenback pulled back 0.337 of a point at 99.735.
Benchmark crude oil prices were lower on Tuesday, as more steps were taken to ending the Russia-Ukraine war and following the OPEC+ announcement of maintaining the alliance’s current output reductions through the first quarter of 2026.
West Texas Intermediate gave up 85 cents at US$57.99 and Brent crude was also down 85 cents at US$62.52 per barrel.
The TSX Composite Index climbed 296.30 points on Tuesday at 30,900.65 for a new record high close.
Gold advanced US$33.80 at US$4,128.00 per ounce.
