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Bay Street Likely To Open Higher

Canadian shares look headed for a higher opening on Tuesday, tracking higher index futures and positive cues from Asian and European markets amid optimism about U.S.-China trade deal.

The focus will be on the government budget to be unveiled today. Today's budget will be the Liberal government's fourth and final one before the election. The budget is widely expected to spell out measures for first time home buyers, seniors and adult Canadians.

U.S. Federal Reserve's two-day monetary policy meeting kicks off today. The Fed is widely expected to keep rates unchanged. Its views on future rates and growth outlook will be the key for the near term trend in global markets.

On Monday, the benchmark S&P/TSX Composite Index ended up 111.02 points, or 0.69%, at 16,251.37, the highest level for the day.

In company news, Canopy Growth Corporation (WEED.TO) and OG DNA Genetics, a globally recognized cannabis brand, announced that they have signed an agreement to extend and expand upon their previously announced partnership through to 2024. With this newly signed agreement, Canopy Growth and DNA have extended their partnership beyond Canada and Jamaica and have committed to bringing DNA's world-renowned genetics to a soon-to-be disclosed European market.

Asian markets ended mostly higher on Tuesday.

Markets in Europe were edging higher as well

In commodities, crude oil futures for May were up $0.28, or 0.47%, at $59.66 a barrel.

Gold futures for April were rising $7.10, or 0.55%, at $1,308.60 an ounce.

Silver futures for May were up $0.083, or 0.54%, at $15.405, while Copper futures for May were gaining $0.0265, or 0.91%, at $2.9355.

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