Glacier FarmMedia – The Canadian dollar strengthened slightly coming out of the August long weekend.
The loonie closed at US$0.7254 or US$1=C$1.3785 on Tuesday, compared to US$0.7248 or US$1=C$1.3797 on Friday. The Bank of Canada did not post a closing rate on Monday.
The United States Dollar Index gained 0.03 of a point at 98.81.
Crude oil prices continued to fall as OPEC+ begins to implement its planned output hike.
West Texas Intermediate lost US$1.21 per barrel at US$65.08. Brent crude oil dropped US$1.19/barrel at US$67.57.
The TSX/S&P Composite Index was five points away from an all-time high on Monday as the markets were optimistic about the U.S. Federal Reserve cutting its key interest rates next month. The index jumped 549.65 points to close at 27,570.08.
Gold added US$7.70 per ounce at $3,434.10.
