Glacier FarmMedia — The Canadian dollar was stronger Friday morning as currency markets reacted to the latest trade news out of the United States.
At 9:14 a.m. CDT the Canadian dollar was trading at US$0.7254 or US$1=C$1.3785 which compares with Thursday’s close of US$0.7223 or US$1=C$1.3844.
U.S. President Donald Trump signed executive orders placing import tariffs of 10 to 41 per cent on dozens of countries. Canada’s import tariff for goods not compliant with the Canada-U.S.-Mexico Agreement (CUSMA) was upped to 35 per cent.
Crude oil was softer in early trade amid expectations for increased output from OPEC+ nations. West Texas Intermediate was down 1.65 per cent at US$68.12 per barrel.
The TSX was weaker, losing 281.56 points at 9:14 CDT to trade at 26,978.22.
