By Commodity News Service Canada.
Winnipeg, July 28 – The Canadian dollar was slightly higher against its US counterpart at midday Wednesday, as traders waited to hear if the US Federal Reserve planned to hike the key interest rate.
The Canadian dollar was at US$0.7752 or US$1 = C$1.2899 at 11:50 CDT Wednesday morning.
The loonie also received a modest boost from advances in oil.
The European central bank issued a gloomy statement Wednesday, when it said the euro zone’s founding members were further apart economically than ever.
On the commodity markets the September crude contract in New York climbed US$1.01 to US$48.99 a barrel. The August gold contract fell US$1.80 to US$1,094.40 an ounce.
At 11:50 CDT Wednesday morning, the Toronto Stock Exchange was up 130.07 points to 14,207.43.
