Canadian Dollar Holds Steady Amid Tariff Deadline and Crude Oil Gains

The Canadian dollar held steady on Tuesday morning without clear direction in its trading. At 8:40 a.m. CDT, it was trading at US$0.7210 or US$1=C$1.3870 compared to Monday's close of US$0.7212 or US$1=C$1.3865.

The looming deadline for the U.S. to impose 50 per cent tariffs on nearly C$20 billion of Canadian goods kept markets cautious amid last-minute trade negotiations.

Crude oil prices were firmer in early activity, with West Texas Intermediate up 0.6 per cent at US$84.21 per barrel.