By Glen Hallick
Glacier FarmMedia – The Canadian dollar was relatively steady on Tuesday, as it fended off a sharp drop in crude oil prices.
The loonie finished at US$0.7371 or US$1=C$1.3567 compared to Monday’s close of US$0.7367 or US$1=C$1.3574. On the United States Dollar Index, the greenback dipped 0.261 of a point at 98.670.
Benchmark crude oil prices continued lower Tuesday afternoon, as the market put its confidence in U.S. President Donald Trump’s statement that the Middle East war will soon deescalate.
West Texas Intermediate fell US$8.44 at US$86.33 per barrel, and Brent crude lost US$8.46 at US$90.50.
The TSX Composite Index bumped up 81.33 points on Tuesday to finish at 33,270.65.
Gold climbed US$98.00 at US$5,201.70 per ounce.
