By Commodity News Service Canada
WINNIPEG, Sept. 22 (CNS Canada) – The Canadian dollar dipped as investors await a speech by Bank of Canada governor Stephen Poloz tomorrow for signs on whether the central bank will hike interest rates again, or if it will slow its pace. The BoC has increased rates twice since June to 1%, sparking a sharp climb in the Canadian dollar. The dollar was down at US$0.8089 or C$1.2362 per US$1 at 7:25 a.m CDT. It closed yesterday at US$0.8103 or C$1.2341.
Enbridge Inc. faces one of the biggest hurdles to its C$8 billion crude oil pipeline upgrade with hearings scheduled in Minnesota. The plan to upgrade Enbridge’s pipeline from Hardisty, Alta., to Superior, Wisconsin, would enable Enbridge to double the existing line’s capacity, however the project has met stiff opposition.
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Producer deliveries of all major grains in Canada reached 4.42 million tonnes in August, the most recent month of available data supplied by Statistics Canada. Manitoba producers delivered 1.12 mllion tonnes, Saskatchewan farmers 1.88 million tonnes and Alberta farmers delivered 946,411 tonnes, StatsCan reported, based on Canadian Grain Commission data.
The S&P/TSX was down 37.94 points (0.24%) to 15,478.29, or 0.24% at 8:30 a.m. CDT.
