By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The Canadian dollar was holding steady Tuesday morning as currency traders await the latest interest rate announcement from the United States Federal Reserve on Wednesday.
At 9:10 a.m. CDT the Canadian dollar was trading at US$0.7217 or US$1=C$1.3856, which compares with Monday’s close of US$0.7219 or US$1=C$1.3852.
General expectations are that the Fed will hold rates steady for the time being, but the accompanying statement will be followed closely for hints at future moves.
Crude oil was softer Tuesday morning, with West Texas Intermediate crude oil down by 1.29 per cent at US$74.83 per barrel.
The TSX was stronger, up by 104.69 points at 22,884.26 at 9:10 CDT.
