WINNIPEG – The Canadian dollar was down on Tuesday amidst housing sales news from the United States and early rises in crude oil prices.
As of 8:38 a.m. CDT, the loonie was at US$0.8087 or US$1=C$1.2366 on Tuesday, compared to US$0.8107 or US$1=C$1.2335 when markets closed on Monday. Earlier today, according to the S&P CoreLogic Case-Shiller 20-city home price index, U.S. home prices increased by 15 per cent in April, the largest year-by-year gain since 2005. OPEC+ nations will meet on Thursday to decide on oil output for August.
Crude oil prices advanced on Tuesday. Brent crude gained US$0.54 per barrel to US$75.22. West Texas Intermediate (WTI) jumped US$0.58 to US$73.49/barrel. Western Canadian Select (WCS) rose US$0.36 to US$59.24/barrel.
The TSX/S&P Composite Index dropped 85.01 points to 20,145.25.
Gold fell US$20.43 per ounce to US$1,758.05.
