WINNIPEG – The Canadian dollar faced resistance to 80 cents United States on Tuesday morning.
As of 8:33 a.m. CST, the loonie was at US$0.7972 or US$1=C$1.2544, compared to Monday’s close of US$0.7989 or US$1=C$1.2517.
The U.S. Dollar Index jumped 0.41 of a point to 95.81. The U.S. Commerce Department announced on Tuesday overall retail sales increased by 1.7 per cent in October, the largest rise since March.
Benchmark crude oil prices were mixed after the International Energy Agency (IEA) suggested in its monthly report on Tuesday that supply is starting to keep up with demand, which may provide price relief. Brent crude oil moved up four cents per barrel to US$82.09. Meanwhile, West Texas Intermediate (WTI) dipped US$0.26 to US$80.62/barrel. Western Canadian Select (WCS) increased US$0.82 to US$62.51/barrel.
The TSX/S&P Composite Index gained 37.10 points at 21,720.18.
Gold lost US$2.80 per ounce to US$1,863.80.
