WINNIPEG – The Canadian dollar was virtually unchanged on Wednesday morning.
The loonie was at US$0.7481 or US$1=C$1.3367, up from US$0.7479 or US$1=C$1.3370 at Tuesday’s close. The Bank of Canada (BoC) is expected to raise its key interest rate later today.
The United States Dollar Index was up 0.02 of a point at 101.92.
Crude oil made modest gains Wednesday morning as traders weighed increasing demand from China with recession fears. Brent crude oil was up US$0.24 to US$86.37/barrel. West Texas Intermediate (WTI) increased US$0.35 at US$80.48/barrel. Meanwhile, Western Canadian Select (WCS) was down US$0.28 to US$56.60/barrel.
The TSX/S&P Composite Index lost 136.88 points to 20,492.67.
Gold dropped US$6.40 per ounce to US$1,929.00.
