By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar dipped on Tuesday, as the United States dollar was higher and crude oil lost its increases.
The loonie closed at US$0.7303 or US$1=C$1.3693 compared to Monday’s close of US$0.7307 or US$1=C$1.3686. On the U.S. Dollar Index, the greenback was up 0.208 of a point at 97.940.
Benchmark crude oil prices dipped on Tuesday, after pushing higher earlier in the session. Global oversupply outweighed rising tensions in the Middle East, in the Russia-Ukraine War and U.S. actions against Venezuela.
West Texas Intermediate dipped 14 cents at US$57.94 per barrel, while Brent crude shed two cents at US$61.92.
The TSX Composite Index eased back 30.33 points on Tuesday at 31,866.26.
Gold rose US$16.50 at US$4,360.10 per ounce.
