By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar pulled back some more on Wednesday, feeling the impact of yesterday’s federal budget.
The loonie closed at US$0.7082 or US$1=C$1.4120 compared to Tuesday’s close of US$0.7097 or US$1=C$1.4090.
With C$1 trillion in major infrastructure and industrial investments, along with the impact of United States tariffs, the federal government said it will increase its deficit to about C$78.3 billion.
On the U.S. Dollar Index, the greenback shed 0.055 of a point at 100.015.
Benchmark crude oil prices fell back Wednesday on concerns of a global oversupply. West Texas Intermediate lost 91 cents at US$59.65 and Brent crude also gave up 91 cents at US$63.53 per barrel.
The TSX Composite Index advanced 325.66 points on Wednesday to close at 30,103.48.
Gold gained US$32.90 at US$3,993.40 per ounce.
