By MarketsFarm
WINNIPEG, April 23 (MarketsFarm) The Canadian dollar was slightly weaker Tuesday morning, as experts anticipate oil sanctions and financial reports could shake up the global economy.
At 8:45 CDT Monday morning, the Canadian dollar was at US$0.7462 or C$1.3401, which compares with Monday’s North American close of US$0.7489 or C$1.3353.
Oil prices hit their highest prices since November following the United States’ announcement to end waivers on imports of Iranian oil by May 1. The Trump administration calls this a “maximum pressure” campaign that aims to completely eliminate Iran’s oil export revenue, which the U.S funds “destabilizing activity throughout the region and beyond,” according to a report from Al Jazeera.
Global oil supply may be jeopardized if Iran closes the Strait of Hormuz, as previously threatened. Approximately one third of all oil traded in the world passes through this waterway.
Stock indexes were mixed, as investors monitor first quarter earnings reports from Coca-Cola, Twitter, Harley Davidson, and other global industry giants.
The TSX gained at 8:45 CDT, down 14.68 points at 16,591.96.
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