Forex
Loonie Tumbles as US Dollar Surges
The Canadian dollar experienced a slight decline on Tuesday morning, as the US dollar continued its upward trend. According to Statistics Canada, the country's real gross domestic product remained unchanged in July.
In terms of currency exchange rates, the Loonie was trading at US$0.7051 or US$1=C$1.4181, slightly lower than Monday's close of US$0.7058 or US$1=C$1.4168.
The U.S. Dollar Index also saw a slight increase, bumping up 0.174 of a point to 101.100. Crude oil prices were weaker on Tuesday morning, with West Texas Intermediate falling by US$2.21 at US$90.39 per barrel and Brent crude losing US$2.12 at US$103.16.