By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar eased back Tuesday, shortly after the federal Liberal government introduced its budget, which has a heavy focus on capital spending.
The loonie closed at US$0.7097 or US$1=C$1.4090 compared to Monday’s close of US$0.7114 or US$1=C$1.4057.
Finance Minister François-Philippe Champagne said today’s spending blueprint includes a deficit of C$78.3 billion for 2025/26, compared to C$42.2 billion forecast in December 2024.
On the United States Dollar Index, the greenback added 0.353 of a point at 100.060.
Benchmark crude oil prices stepped back on Tuesday due to ongoing concerns of oversupply. West Texas Intermediate lost 69 cents at US$60.36 and Brent crude gave up 62 cents at US$64.27 per barrel.
The TSX Composite Index dropped 497.24 points on Tuesday to close at 29.777.82.
Gold fell US$70.00 at US$3,944.00 per ounce.
