Glacier FarmMedia – The Canadian dollar declined for the second straight day on Wednesday as crude oil prices eased off.
The loonie closed at US$0.7246 or US$1=C$1.3801, compared to US$0.7267 or C$1=C$1.3761 on Tuesday.
The United States Dollar Index gained 0.20 of a point at 99.63.
Crude oil retreated after the U.S. submitted a 15-point ceasefire plan to Iran through Pakistan. However, Iran said it rejected the proposal, prompting crude oil prices to recover most of its morning losses. It was announced today that U.S. President Donald Trump and Chinese President Xi Jinping will meet in China in May.
West Texas Intermediate dipped US$1.37 per barrel at US$90.98. Brent crude oil pulled back US$1.75/barrel at US$102.74.
Optimism towards the end of the Iran war sent the TSX/S&P Composite Index rising by 441.01 points at 32,382.60.
Gold advanced US$125.70 per ounce at US$4,527.70.
