By Commodity News Service Canada
WINNIPEG, Sept. 21 (CNS Canada) The Canadian dollar was slightly weaker Wednesday morning, as traders kept to the sidelines and squared positions ahead of the US Federal Reserve’s latest interest rate announcement.
At 9:31 CDT Wednesday morning the Canadian dollar was at US$0.7567 or C$1.3215 which compares with Tuesday’s North American close of US$0.7571 or C$1.3209.
The US Fed is generally expected to be holding rates unchanged in its policy announcement later today, but future hikes are likely and investors will be following the Fed statements closely for signs on future moves.
The value of Canada’s wholesale trade increased by 0.3 per cent in July, marking the fourth consecutive increase, according to Statistics Canada data.
Crude oil was up on Wednesday, which provided some underlying support for the energy-linked Canadian currency.
The TSX was stronger, up 122.30 points at 9:31 CDT to sit at 14,644.28.
