By MarketsFarm
WINNIPEG, July 28 (MarketsFarm) – The Canadian dollar was virtually unchanged on Tuesday morning, benefitting from continued weakness in the United States dollar.
As of 8:43 CDT, the Canadian dollar was at US$0.7471 or C$1.3386, compared to Monday’s close of US$0.7475 or C$1.3378.
Benchmark crude oil prices were steady to lower on Tuesday morning as a weaker U.S. dollar was providing support. Concerns over the global economy slowing down again due to a surge in the COVID-19 pandemic weighed on values.
Brent crude oil slipped four cents at US$43.37 per barrel. West Texas Intermediate (WTI) was down 37 cents at US$41.23 per barrel. Western Canadian Select (WCS) lost 49 cents at US$31.93 per barrel.
Gold fell US$6.89 this morning to US$1,935.36 per ounce after pushing higher in overnight trading.
At the opening, the TSX/S&P Composite Index dipped 28.67 points at 16,132.66.
