Glacier FarmMedia — The Canadian dollar gained some ground on Wednesday.
The loonie closed at US$0.7275 or US$1=C$1.3746, compared to US$0.7254 or US$1=C$1.3785 on Tuesday.
The United States Dollar Index dropped 0.53 of a point at 98.25. U.S. President Donald Trump threatened 50 per cent tariffs on goods from India earlier today due to the latter’s purchases of Russian oil.
Crude oil prices fell to eight-week lows after Trump told reporters there was progress in talks with Russia.
West Texas Intermediate lost US$1.09 per barrel at US$64.07. Brent crude oil dropped US$1.03/barrel at US$66.61.
The TSX/S&P Composite Index reached a new all-time high at 27,955.55 points before closing with a gain of 350.79 points at 27,920.87.
Gold declined US$3.20 per ounce at $3,432.50.
