Forex
Canadian Dollar Holds Steady Amid Ongoing Trade Negotiations
The Canadian dollar is holding steady on Tuesday morning without any clear direction in sight. Trading at US$0.7210 or US$1=C$1.3870, it's essentially unchanged from Monday's close of US$0.7212 or US$1=C$1.3865.
A looming deadline for the imposition of 50% tariffs on nearly C$20 billion worth of Canadian goods by the U.S. has kept some caution in the markets amid ongoing trade negotiations.
Crude oil is firmer, with West Texas Intermediate up 0.6% at US$84.21 per barrel, but this hasn't had a significant impact on the overall market sentiment.