By MarketsFarm
WINNIPEG, March 19 (MarketsFarm) – The Canadian dollar was up Tuesday morning, ahead of the federal government’s budget which will be introduced this afternoon.
At 8:33 CDT Tuesday morning the Canadian dollar was at US$0.7540 or C$1.3258, which compares with Monday’s North American close of US$0.7493 or C$1.3345.
Finance Minister Bill Morneau will present the federal Liberal government’s fourth budget at 3 pm CDT on Tuesday. Among the items expected to be in the budget are assistance for first-time homebuyers, supports for seniors, skills training, and taking steps towards a national pharmacare program.
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Although the Liberals 2015 election win included a promise to balance the books by 2019, Morneau’s budget is projected to have a C$18.1 billion deficit.
The Liberals are hoping their pre-election budget will refocus the public’s attention away from the SNC-Lavalin scandal. Canadians go to the polls in October.
The TSX/S&P Composite Index opened with a slight gain of 4.84 points Tuesday morning at 16,256.21 points.
Benchmark crude oil prices were up Tuesday morning. West Texas Intermediate crude oil was at US$59.61 per barrel after closing Monday at US$59.09 per barrel. Brent crude oil was up 40 cents per barrel to US$67.94 per barrel.
Gold was up US$8.50 Tuesday morning to US$1,310.00 per ounce.
