By Commodity News Service Canada
Sept. 20 (CNS Canada) – The Canadian dollar was up 0.09 of a cent U.S. this morning at US$0.8154 or C$1.2264 per US$1. It closed yesterday at US$0.8145 or C$1.2277.
The federal government reports a budget deficit of C$17.8 billion for the 2016-17 fiscal year. May projections suggested a C$21.85 billion deficit. The overall federal debt now sits C$631.9 billion compared to C$616 billion in 2015-16.
The U.S. Federal Reserve is expected to make an announcement this afternoon following an internal meeting. Investors are not expecting an interest rate increase but many hope to receive a hint about future possibilities. As well, news about how and when the Fed will begin divesting itself of investments made as part of a stimulus package is expected.
The S&P/TSX is up 41.61 points in early trading at 15,334.58 at 8:45 a.m. CDT.
