By MarketsFarm
WINNIPEG, March 28 (MarketsFarm) – The Canadian dollar was higher on Tuesday morning as its United States counterpart was lower.
As of 8:35 am CDT, the loonie was at US$0.7325 or C$1.3651, compared to Monday’s close of US$0.7309 or US$1=C$1.3682. On the U.S. Dollar Index the greenback was down 0.298 of a point at 102.220.
The federal Liberal government will introduce its next budget at 3 pm CDT. Reports said the budget is to be a balance between providing inflation relief with spending controls.
Benchmark crude oil prices were a pinch higher on Tuesday morning after making strong gains yesterday when Kurdistan brought its oil exports through Turkey to a halt. Growing expectations of larger U.S. oil stockpiles combined with less concern over the global banking crisis countered the decline in exports.
Brent crude oil added six cents at US$78.18 per barrel and West Texas Intermediate (WTI) bumped up 12 cents at US$72.93.
Shortly after Tuesday’s open the TSX/S&P Composite Index eased back 16.20 points at 19,608.54.
Gold gained US$9.70 at US$1,963.50 per ounce.
