Glacier FarmMedia – The Canadian dollar was higher on Tuesday morning, hours after the Liberal government’s federal budget narrowly passed in the House of Commons.
The loonie was at US$0.7137 or US$1=C$1.4011 as of 8:38 a.m. CST, compared to Monday’s close at US$0.7125 or US$1=C$1.4035.
Mark Carney’s first federal budget as Prime Minister was accepted by a vote of 170 to 168 on Monday evening. All Liberal MPs and Green Party MP Elizabeth May voted in favour. Two Conservative MPs and two NDP MPs abstained from the vote. If the budget hadn’t passed, a snap election would’ve been called.
Read Also
Canadian Financial Close: Loonie down ahead of budget vote
Glacier FarmMedia — The Canadian dollar stepped back on Monday after new economic news from Statistics Canada and ahead of…
The United States Dollar Index was down 0.13 of a point at 99.46.
Crude oil prices were lower on Tuesday as Chinese stockpiles grew. Brent crude oil was down US$0.27 per barrel at US$63.93/barrel. West Texas Intermediate declined US$0.16 at US$59.75/barrel.
The TSX/S&P Composite Index fell 95.15 points at 29,981.06.
Gold was up US$2.00 per ounce at US$4,076.50.
