Reuters

The Canadian dollar edged lower against its U.S. counterpart on Tuesday as oil prices fell and investors waited for the currency to extend this month's decline before stepping in to buy it, with the loonie sticking to its recent trading range. "Client feedback suggests that there should be some decent U.S. dollar selling activity if we go north of 1.35, which should cap it," said Simon Côté, managing director, risk management solutions, National Bank Financial. U.S. crude oil futures <CLc1> settled 3.2% lower at $39.29 a barrel on worries about the outlook for fuel demand as Europe and the United States grappled with a surge in new coronavirus infections.