Glacier FarmMedia – The Canadian dollar was relatively steady on Tuesday as rising crude oil prices were countered by a stronger United States dollar.
The loonie closed at US$0.7308 or US$1=C$1.3684, compared to US$0.7306 or US$1=C$1.3688 on Monday. The U.S. Dollar Index added 0.64 of a point at 99.02.
Air strikes on Iran and other Middle East countries continued to raise crude oil prices, although the increases were not as large as Monday’s gains. West Texas Intermediate rose US$3.05 per barrel at US$74.28. Brent crude oil climbed US$3.55/barrel at US$81.29.
Worries over inflation caused by the Middle East conflict brought the TSX/S&P Composite Index down by 756.33 points at 33,784.94.
Gold erased Monday’s gains and more, losing US$198.00 per ounce at US$5,113.60.
