WINNIPEG – The Canadian dollar was slightly higher on Tuesday despite declines in crude oil.
As of 8:38 a.m. CDT, the loonie was at US$0.7783 or US$1=C$1.2849, compared to US$0.7755 or US$1=C$1.2895 on Monday. The United States Dollar Index eased off, losing 0.60 of a point at 103.15.
While Beijing tightened its COVID-19 lockdown, curbs are loosening in Shanghai, creating little pull in crude oil prices. Brent crude oil retreated US$1.84 per barrel to US$105.74. West Texas Intermediate (WTI) fell back US$1.25 to US$103.92/barrel. Western Canadian Select (WCS) lost US$1.40 to US$91.33/barrel.
The TSX/S&P Composite Index jumped 103.27 points to 20,795.49.
Gold increased US$0.80 per ounce to US$1,864.40.
