By Commodity News Service Canada
Winnipeg, April 2 – The Canadian dollar was slightly higher against its American counterpart Thursday morning, on the heels of an announcement by the Canadian government that it would release the federal budget on April 21.
At 8:50 CDT Thursday morning, the loonie was up 0.0019 of a cent to US$0.7944 or US$1 = C$1.2661.
Oil prices fell more than three percent as officials from the West reportedly closed in on a deal with Iran that would see it curtail its nuclear development program. If successful, the agreement could result in more crude oil being released into world markets.
This could push oil prices much lower as Russia recently announced its oil output was at record 10.71 million barrels per day.
On the commodity markets the May crude contract in New York dipped US$1.16 to US$48.93 a barrel. The April gold contract sank $13.60 to US$1,203.30 an ounce.
At 8:50 CDT Thursday morning, the TSX was up 37.46 points to 14,980.01.
