By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar was stronger on Tuesday, but unable to remain above 73 U.S. cents. While the United States dollar turned weaker, as did crude oil prices.
The loonie finished at US$0.7293 or US$1=C$1.3712, compared to Monday’s close of US$0.7270 or US$1=C$1.3755. The U.S. Dollar Index lost 0.480 of a point at 97.530.
Benchmark crude oil prices fell hard for a second day on Tuesday, as Middle East tensions were reduced with Iran and Israel agreeing to a ceasefire.
Brent crude retreated US$3.72 at US$67.76 per barrel and West Texas Intermediate fell US$3.50 at US$65.01.
Statistics Canada reported the country’s consumer price index for May held firm at 1.7 per cent, due in part a slowing of the increases for shelter.
The TSX Composite Index climbed 109.26 points or 0.41 per cent on Tuesday, to close at 26,718.62. Meanwhile, the S&P 500 added 1.11 per cent, the DOW rose 1.19 per cent and the NASDAQ jumped 1.43 per cent.
Gold dropped US$58.10 at US$3,336.90 per ounce.
