By MarketsFarm
WINNIPEG, April 9 (MarketsFarm) – The Canadian dollar was up slightly Tuesday morning as the United States dollar lost ground following comments from U.S. President Donald Trump.
At 8:48 CDT Tuesday morning the Canadian dollar was at US$0.7510 or C$1.3311, which compares with Monday’s North American close of US$0.7505 or C$1.3325.
President Trump ramped up his rhetoric aimed the European Union. The president threatened to impose US$11 billion of tariffs on EU imports. The issue stems from subsidies the EU provides to Airbus and those the U.S. pays to Boeing.
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The TSX/S&P Composite Index was down Tuesday morning. The TSX lost 90.19 points at 16,317.10 points.
Benchmark crude oil prices were slipping Tuesday morning as comments from Russia’s oil minister about the country pulling out of supply cuts with OPEC in June weighed on values. Continued fighting in Libya along with U.S. sanctions against Iran and Venezuela tempered losses.
West Texas Intermediate crude oil was down 22 cents at US$64.18 per barrel Tuesday morning. Brent crude oil lost 57 cents to US$70.53 per barrel.
Gold was up US$7.90 on Tuesday morning at US$1,306.70 per ounce.
