WINNIPEG, May 10 (MarketsFarm) The Canadian dollar was up on Friday morning.
At 8:45 CDT Friday morning, the Canadian dollar was at US$0.7466 or C$1.3354, which compares with Thursday’s North American close of US$0.7417 or C$1.3483.
The United States has hiked tariffs from 10 per cent to 25 per cent on $200 billion Chinese products, amidst negotiations to hammer out a trade deal.
The Chinese government expressed “deep regret over the development” and pledged to take “necessary countermeasures,” according to CNN Business.
“We hope the United States will meet us halfway, and work with us to resolve existing issues through cooperation and consultation,” China’s Ministry of Commerce said in a statement.
Oil futures remained strong despite trade uncertainty, buoyed largely by a tight global supply. West Texas International gained by eight cents to hit US$61.78 per barrel.
The TSX lost at 8:45 CDT, down 104.69 points at 16,217.06. The S&P 500 Index dropped by 8.04 points to hit 2,861.97. Similarly, the Dow Jones lost 61.36 to 25,764.67. Similarly, the NASDAQ dropped 19.82 to hit 7,891.29.
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