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FINWIRES

US Dollar Strengthens Against The Canadian Dollar as Oil Prices Rise, Gold Declines

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The US dollar strengthened against the loonie Tuesday afternoon, as oil prices rose and gold fell.

Tensions in the Strait of Hormuz and surrounding areas are continuing but President Trump declared on his Truth Social platform that the Strait of Hormuz is operating with water mines no longer constituting a threat, CNBC reported.

Meanwhile, UAE reported on X that its air defenses detected two ballistic missiles launched from Iran towards the country.

The US dollar edged up 0.2% to C$1.3903 on last look.

West Texas Intermediate September futures rose 0.8% to $85.14 per barrel, while Brent crude futures for October delivery rose 0.5% to $91.30 per barrel.

Comex gold for December delivery fell 1.2% to $4,4417.20 per ounce.

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