By MarketsFarm
WINNIPEG, May 30 (MarketsFarm) The Canadian dollar was fairly steady on Thursday morning, amid reports of the Mexican government sending the United States/Mexico/Canada trade agreement to Senate, continuing the ratification process and moving closer to a finalized North American trade deal.
At 8:45 CDT Thursday morning, the Canadian dollar was at US$0.7411 or C$1.3493, which compares with Wednesday’s North American close of US$0.7400 or C$1.3513.
China has ceased purchasing U.S. soybeans as the trade war between the two countries escalated with no end in sight. Experts close to the situation say China has no plans to cancel previously purchased soybeans, according to Bloombreg.
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The trade dispute continued to weigh on crude oil futures, sparking concerns of lowered global economic demand.
“I think the whole entire energy sector has been facing some weak price momentum, but also earnings momentum,” said Matthew Bartolini, managing director of SPDR Americas Research at State Street Global Advisors to CNBC. “Not a lot of firms were beating expectations.”
West Texas International was gained 28 cents to hit US$59.09 per barrel, and Brent Crude lost 49 cents to hit US$68.96.
The TSX gained at 8:45 CDT, up 9.70 points at 16,141.17. The S&P 500 Index gained 11.86 points to hit 2,794.71. Similarly, The Dow Jones gained 66.91 points at 25,196.38. The NASDAQ gained 34.77 to hit 7,582.28.
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