WINNIPEG – The Canadian dollar is getting closer to the 78 United States cent mark.
As of 8:47 a.m. CDT, the loonie was at US$0.7786 or US$1=C$1.2844 on Tuesday, compared to US$0.7760 or US$1=C$1.2887 on Monday. The U.S. Dollar Index was up 0.43 of a point at 104.37.
Crude oil prices continue to be higher on Tuesday as Group of Seven (G7) nations determine what new economic sanctions should be placed on Russia. Brent crude oil gained US$1.15 per barrel to US$116.24. West Texas Intermediate (WTI) advanced US$1.09 at US$110.66/barrel. Western Canadian Select (WCS) increased US$0.87 to US$93.21/barrel.
The TSX/S&P Composite Index was climbing fast, rising 217.27 points to 19,475.59.
Gold is down US$0.30 per ounce to US$1,824.50.
