WINNIPEG – The Canadian dollar lost all of yesterday’s gains on Tuesday morning and then some.
The loonie was at US$0.7350 or US$1=C$1.3605, down from US$0.7382 or US$1=C$1.3546 on Monday. Meanwhile, the United States Dollar Index added 0.16 of a point at 102.31, approaching its highest level since April 10.
Crude oil continued its ongoing decline due to Chinese economic concerns as well as wariness in the U.S. financial system after JPMorgan Chase & Co. acquired failed bank First Republic yesterday. Brent crude oil lost US$1.07 to US$78.24 per barrel. West Texas Intermediate (WTI) retreated US$1.08 at US$74.58/barrel.
The TSX/S&P Composite Index dropped 137.21 points to 20,477.89.
Gold added US$4.20 per ounce to US$1,996.40.
