By MarketsFarm
WINNIPEG, Jan. 10 (MarketsFarm) – The Canadian dollar was slightly weaker Tuesday morning, seeing a modest correction after hitting its highest level in six weeks relative to its United States counterpart on Tuesday.
At 9:07 a.m. CST Tuesday morning the Canadian dollar was at US$0.7460 or US$1=C$1.3405, which compares with Monday’s close of US$0.7476 or US$1=C$1.3376.
A speech from U.S. Federal Reserve Chair Jerome Powell delivered to Sweden’s Riksbank was being followed closely by currency traders for any insight into future interest rate moves, although his prepared remarks were deemed relatively neutral.
Crude oil was firmer in early activity, recovering from overnight losses. West Texas Intermediate was up by 0.6 per cent at US$75.08 per barrel.
The TSX was down by 49.66 points at 9:07 CST, trading at 19,807.41 points.
