By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The Canadian dollar was holding steady Tuesday morning, as support from gains in crude oil was countered by pressure from losses in equity markets.
At 8:41 a.m. CDT the Canadian dollar was trading at US$0.7365 or US$1=C$1.3578, which compares with Monday’s close of US$0.7367 or US$1=C$1.3574.
Crude oil was sharply higher Tuesday morning, as ongoing geopolitical tensions, OPEC+ production cuts and strong demand all provided support.
West Texas Intermediate crude oil moved was up by 1.53 per cent at US$84.99 per barrel.
The TSX was weaker, down by 131.91 points at 8:41 CDT to trade at 22,053.34 points.
