By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar continued its decline on Wednesday morning, following the federal government introducing its budget.
As of 8:41 am CST, the loonie was at US$0.7078 or US$1=C$1.4126 compared to Tuesday’s close of US$0.7097 or US$1=C$1.4090.
Introduced in the House of Commons on Tuesday, the Liberal budget projected a deficit of C$78.3 billion for 2025/26, a jump of 46 per cent from the December estimate.
On the United States Dollar Index, the greenback nudged up 0.035 of a point at 100.105.
Benchmark crude oil prices eased back on Wednesday morning, pressured by the stronger U.S. dollar and lackluster economic data out of the U.S. and China
West Texas Intermediate lost 39 cents at US$60.17 per barrel and Brent crude oil gave up 31 cents at US$64.13 per barrel.
In morning activity, the TSX/S&P Composite Index rose 175.72 points at 29,953.54.
Gold advanced US$31.50 at US$3,992.00 per ounce.
