Loonie Slips as US Dollar Gains Ground

The Canadian dollar experienced a slight downturn on Tuesday morning as the United States dollar continued to rise. According to Statistics Canada, the country's real gross domestic product remained essentially unchanged in July.

The Canadian dollar was trading at US$0.7051 or US$1=C$1.4181, compared to Monday's close of US$0.7058 or US$1=C$1.4168. The U.S. Dollar Index also saw a slight increase, rising by 0.174 points to 101.100.

Crude oil prices suffered losses on Tuesday morning as the U.S. and Iran resumed negotiations to end their conflict. West Texas Intermediate fell to US$90.39 per barrel, down from US$2.21, while Brent crude dropped to US$103.16, losing US$2.12.