Glacier FarmMedia — The Canadian dollar was holding relatively steady Tuesday morning amid broad geopolitical uncertainty.
- At 8:57 a.m. CST the Canadian dollar was trading at US$0.7206 or US$1=C$1.3877 which compares with Monday’s close of US$0.7207 or US$1=C$1.3875.
- The total value of building permits issued in Canada declined 13.1 per cent in November from the previous month to C$12.0 billion, reported Statistics Canada. The residential sector was down 12.0 per cent on the month, while the non-residential sector posted a 14.9 per cent decline.
- Central bankers from around the world, including Bank of Canada governor Tiff Macklem, expressed “full solidarity” with United States Federal Reserve Chair Jerome Powell in a statement. Powell is facing a criminal investigation from Donald Trump’s justice department — an action generally seen as an attempt to undermine the Fed’s independence in setting interest rates.
- Gold remained at record highs, rising US$18.40 in early activity to trade at US$4,633.10 per ounce.
- Canadian Prime Minister Mark Carney begins his visit to China today, with trade expected to be a key topic of discussion.
- West Texas Intermediate crude oil was up 2.72 per cent at US$61.12 per barrel. Oil was underpinned by escalating tensions in Iran and news of an attack on oil tankers in the Black Sea.
- The TSX was up 49.02 points at 8:57 CST to trade at 32,923.72.
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