Canadian Dollar and Business Outlook: Loonie firm to start Monday
Canadians selecting next government today
By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar was virtually unchanged on Election Day morning.
As of 8:35 am CDT, the loonie was at US$0.7217 or US$1=C$1.3860 compared to Friday’s close of US$0.7213 or US$1=C$1.3863. On the index, the greenback added 0.141 points at 99.395.
As Canadians head to the polls today, U.S. President Donald Trump repeated his commitment to Canada becoming the 51st state.
“Elect the man who has the strength and wisdom to cut your taxes in half, increase your military power, for free, to the highest level in the World, have your Car, Steel, Aluminum, Lumber, Energy, and all other businesses, QUADRUPLE in size, WITH ZERO TARIFFS OR TAXES, if Canada becomes the cherished 51st. State of the United States of America,” Trump wrote on his Truth Social platform.
Polls are open from 8:30 a.m. to 8:30 p.m. local times.
Benchmark crude oil prices eased back on Monday morning due to uncertainty over trade talks between the U.S. and China and global economic growth as well as the prospect of OPEC+ increasing the supply of crude.
Brent crude oil dipped 17 cents at US$66.70 per barrel and West Texas Intermediate shed 14 cents at US$62.88.
The TSX/S&P Composite Index gained 73.75 points at 24,784.26.
Gold was up US$10.60 at US$3,309.00 per ounce.
