By MarketsFarm
WINNIPEG, April 10 (MarketsFarm) – The Canadian dollar was down Wednesday morning following talk of Canada imposing tariffs on the United States.
At 8:43 CDT Wednesday morning the Canadian dollar was at US$0.7493 or C$1.3342, which compares with Tuesday’s North American close of US$0.7510 or C$1.3316.
In a speech on Tuesday, Canada’s Ambassador to the U.S. commented there could be tariffs imposed on U.S. imports. This came after there has been no movement from U.S. President Donald Trump on eliminating tariffs on Canadian steel and aluminum imports. Trump was to end those tariffs following the signing of the U.S.-Mexico-Canada Agreement in November. Canada’s tariffs, if imposed, have been estimated at approximately C$16.6 billion and would likely include agricultural imports.
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The TSX/S&P Composite Index was up Wednesday morning. The TSX opened with a gain of 46.59 points at 16,383.04 points.
Benchmark crude oil prices were up Wednesday morning as OPEC/Russia supply cuts and United States sanctions on oil from Iran and Venezuela.
West Texas Intermediate crude oil gained 38 cents at US$64.36 per barrel Wednesday morning. Brent crude oil was up 25 cents to US$70.86 per barrel.
Gold was up 70 cents on Wednesday morning at US$1,305.80 per ounce.
