By MarketsFarm
WINNIPEG, March 20 (MarketsFarm) – The Canadian dollar was down Wednesday morning, as the markets begin to adjust to yesterday’s federal Liberal government’s budget.
At 8:38 CDT Wednesday morning the Canadian dollar was at US$0.7506 or C$1.3318, which compares with Tuesday’s North American close of US$0.7523 or C$1.3292.
The TSX/S&P Composite Index opened down by 44.95 points Wednesday morning at 16,143.15 points.
Among the items Canadian Minister of Finance Bill Morneau included in the budget were assistance for first-time homebuyers, more money for skills and job training and the creation of a national pharmacare agency. The budget forecast a deficit of C$19.8 billion for this year.
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This is the Liberal government’s last budget before October’s federal election.
Benchmark crude oil prices were down Wednesday morning, despite tight supplies, as concerns over a slowing global economy are taking hold. West Texas Intermediate crude oil was at US$58.52 per barrel Wednesday morning after closing Tuesday at US$59.03 per barrel. Brent crude oil was down 25 cents per barrel to US$67.36 per barrel.
Gold was up US$1.90 Wednesday morning to US$1,308.40 per ounce.
