WINNIPEG – The Canadian dollar retreated on Wednesday ahead of an announcement from the Bank of Canada (BoC).
The loonie was at US$0.7261 or US$1=C$1.3772 on Wednesday morning, lower than Tuesday’s close of US$0.7283 or US$1=C$1.3731. The BoC will announce its key interest rate decision later today, which is expected to leave the rate unchanged.
The United States Dollar Index edged up 0.16 of a point at 106.43.
Crude oil prices saw small increases as Israel rethinks a ground invasion of Gaza. Brent crude oil was up US$0.12 at US$88.19 per barrel. West Texas Intermediate (WTI) added US$0.01 at US$83.75/barrel.
The TSX/S&P Composite Index subtracted 19.34 points at 18,967.15.
Gold added US$2.50 at US$1,988.60 per ounce.
