Loonie Edges Higher as Crude Oil Prices Take a Tumble

The Canadian dollar experienced a slight increase on Tuesday morning, reaching US$0.7176 or US$1=C$1.3935 at 8:35 a.m. CDT.

This represents a minor change from Monday's close of US$0.7173 or US$1=C$1.3942.

The United States Dollar Index also saw a slight increase, rising to 99.86 after being up 0.05 of a point.

Crude oil prices took a minor correction following OPEC+ reports that average daily production in July increased by 1.17 million barrels per day to 19.85 million BPD.