By MarketsFarm
WINNIPEG, May 28 (MarketsFarm) The Canadian dollar was down on Tuesday morning.
At 8:45 CDT Tuesday morning, the Canadian dollar was at US$0.7425 or C$1.3468, which compares with Monday’s North American close of US$0.7439 or C$1.3442.
Markets opened strongly after Memorial Day long weekend, despite comments from United States President Donald Trump indicating no end in sight to the U.S. trade war with China. President Trump said the U.S. was “not ready to make a deal” with China, and that tariffs could “go up very, very substantially, very easily,” according to Yahoo Finance.
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Oil futures were steady amid speculation that the U.S. and China are far from making a trade deal, and concerns of slowed global consumption.
“Oil prices lack direction because the oil market currently finds itself caught between supply risks and concerns about demand,” Commerzbank said in a note to Reuters.
West Texas International was up 83 cents to hit US$59.46 per barrel, and Brent Crude gained six cents to hit US$70.17.
The TSX lost slightly at 8:45 CDT, down 1.39 points at 16,345.27. The S&P 500 Index gained by 8.86 points to hit 2,834.38. Similarly, the Dow Jones gained 105.50 to hit 25,690.02. The NASDAQ also gained 43.62 to hit 7,682.16.
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