Canadian Dollar Steady Amid US Trade Tensions

The Canadian dollar is holding steady on Tuesday morning without any clear direction. As of 8:40 a.m. CDT, it was trading at US$0.7210 or US$1=C$1.3870, marginally higher than Monday's close of US$0.7212 or US$1=C$1.3865.

The market is cautious due to the looming deadline for potential 50% tariffs on nearly C$20 billion worth of Canadian goods in trade negotiations with the U.S.

Meanwhile, crude oil prices are firmer, with West Texas Intermediate up 0.6% at US$84.21 per barrel.

The Toronto Stock Exchange (TSX) is also down, having fallen by 168.35 points to trade at 36,499.57 at 9:16 CDT.