Glacier FarmMedia – The Canadian dollar stepped up on Wednesday while crude oil dropped.
The loonie closed at US$0.7220 or US$1=C$1.3851, compared to US$0.7191 or C$1=C$1.3907 on Tuesday, for its highest close in a week. The United States Dollar Index declined 0.86 of a point at 99.00.
Crude oil prices fell on Wednesday after the U.S., Israel and Iran agreed to a two-week ceasefire on Tuesday evening, hours before the U.S. were to launch a large-scale attack on Iran. One of the conditions of the deal was the re-opening of the Strait of Hormuz. However, the waterway was closed by Iran again earlier today after Israel launched attacks on Lebanon.
April West Texas Intermediate fell US$16.96 per barrel at US$95.99. May Brent crude oil lost US$13.23/barrel at US$96.04.
The TSX/S&P Composite Index rose 383.05 points at 33,620.57.
Gold jumped US$67.10 per ounce at US$4,753.80.
