By MarketsFarm
WINNIPEG, April 20 (MarketsFarm) – The Canadian dollar was holding relatively steady Tuesday morning, showing little reaction to Monday’s federal budget.
At 9:02 a.m. CDT Tuesday morning, the Canadian dollar was at US$0.7986 or US$1=C$1.2522 which compares with Monday’s North American close of US$0.7988 or US$1=C$1.2519.
The Government of Canada’s first budget in two years included billions of dollars in pandemic recovery measures.
The Bank of Canada is generally expected to be holding interest rates unchanged when it makes its next policy announcement on Wednesday. The accompanying statement will be followed closely for signs of future moves.
West Texas Intermediate crude oil was up by 0.2 per cent in early activity to trade at US$63.54 per barrel.
The TSX was weaker in early activity, down by 118.10 points at 9:02 CDT to trade at 19,086.32 points.
