Glacier FarmMedia | MarketsFarm — The Canadian dollar was holding near unchanged Tuesday morning, as financial markets digested the latest tariff news out of the United States.
At 8:54 a.m. CST the Canadian dollar was trading at US$0.6981 or US$1=C$1.4325 which compares with Monday’s close of US$0.6982 or US$1=C$1.4323.
U.S. President Donald Trump signed an executive order that will see 25 per cent tariffs on all steel and aluminum imports to the country starting March 12. Canada currently accounts for nearly 80 per cent of U.S. aluminum imports and is also a major source of steel.
The total value of building permits issued in Canda increased 11.0 per cent in December from the previous month to hit C$13.1 billion, reported Statistics Canada. The residential sector led the move, rising 21.2 per cent during the month.
Crude oil was firm in early trade, with West Texas Intermediate crude oil up by 1.33 per cent at US$73.28 per barrel.
The TSX was weaker, down 153.40 points at 8:53 CST to trade at 25,505.46.
