Glacier FarmMedia – The Canadian dollar was slightly higher on Tuesday, while crude oil prices dropped.
The loonie closed at US$0.7191 or US$1=C$1.3907, compared to US$0.7186 or C$1=C$1.3916 on Monday. The United States Dollar Index dipped 0.11 of a point at 99.87.
Crude oil prices were higher earlier in the day until the U.S. announced it was reviewing a proposal by Pakistan to extend Iran’s deadline to re-open the Strait of Hormuz. Trump said on social media this morning that Iran’s “civilization will die tonight” if a deal wasn’t reached by today.
April West Texas Intermediate shed US$0.94 per barrel at US$111.47. May Brent crude oil lost US$3.50/barrel at US$106.23.
The TSX/S&P Composite Index advanced 55.55 points at 33,237.52.
Gold rose US$48.30 per ounce at US$4,733.00.
