By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar gained ground on Wednesday morning, ahead of United States President Donald Trump announcing his reciprocal tariffs at 3 p.m. CDT.
As of 8:36 am CDT, the loonie was at US$0.6981 or US$1=C$1.4327 compared to Tuesday’s close of US$0.6970 or US$1=C$1.4348. On the U.S. Dollar Index, the greenback lost 0.344 of a point at 103.615.
Benchmark crude oil prices were lower on Wednesday morning as Trump’s tariffs outweighed market concerns about reduced supplies.
Brent crude oil gave up 31 cents at US$74.18 per barrel and West Texas Intermediate pulled back 26 cents at US$70.94.
Shortly after the TSX/S&P Composite Index opened, it dropped 207.09 points at 24,826.19.
Gold increased US$15.30 at US$3,161.30 per ounce.
