Glacier FarmMedia – The Canadian dollar closed at its highest level in 20 days on Tuesday.
The loonie rose to US$0.7164 or US$1=C$1.3959, compared to US$0.7145 or US$1=C$1.3995 on Monday.
The United States Dollar Index was down 0.08 of a point at 98.71. U.S. President Donald Trump and Chinese President Xi Jinping will meet on Thursday in South Korea during the APEC summit. They are to discuss the framework trade agreement that the two countries reached on Monday.
Read Also
Canadian Dollar and Business Outlook: Loonie up, crude oil stumbles
Glacier FarmMedia – The Canadian dollar moved a little bit higher on Tuesday. The loonie was at US$0.7149 or…
The Bank of Canada will make its interest rate announcement at 8:45 a.m. CDT on Wednesday, while the U.S. Federal Reserve will make a similar announcement in the afternoon.
Crude oil prices dropped due to sanctions on Russian oil and gas as well as speculation that OPEC+ will raise output in December. West Texas Intermediate lost US$1.37 per barrel at US$59.94. Brent crude oil fell US$1.42/barrel at US$64.20.
The TSX/S&P Composite Index grew 143.92 points to close at 30,419.68.
Gold shed US$49.90 per ounce at US$3,969.80.
