By Commodity News Service Canada
WINNIPEG, August 19 – The Canadian dollar weakened against its
US counterpart Wednesday morning as the US Federal Reserve is
expected to release minutes from its latest meeting, and as crude
oil prices continued to sink.
At 9:00 a.m. CDT the Canadian dollar was at US$0.7645 or C$1.3080
which compares with Tuesday’s North American close of US$0.7659, or
C$1.3056.
Minutes from the Federal Reserve’s latest policy meeting are
expected to be released on Wednesday, and market watchers will be
looking for indications on when the Fed will introduce an interest
rate cut.
In Canadian economic data, US residents made 1.9 million trips
to Canada in June, up 3.3 per cent from May. This was the highest
level in over seven years, Statistics Canada said in a report on
Wednesday.
However, StatsCan says while travel from Canada to overseas
countries was stable, travel from Canada to the United States fell
1.3 per cent from May to 3.8 million trips.
The TSX was weaker in early activity, down 90.47 points at 9:00
a.m. CDT to sit at 14,103.40.
