By MarketsFarm
WINNIPEG, March 22 (MarketsFarm) – The Canadian dollar was holding steady Wednesday morning, as investors wait for the latest interest rate decision from the United States Federal Reserve.
At 8:56 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7291 or US$1=C$1.3716, which compares with Tuesday’s close of US$0.7296 or US$1=C$1.3706.
The U.S. Fed is set to release the results of its two-day meeting later in the day, with most analysts still pricing in a modest 25-point hike. However, the recent banking crisis has led to ideas that rate cuts may be coming later this year, with today’s accompanying statement expected to be read closely for clues on future rate adjustments.
Crude oil was slightly softer in early activity, with West Texas Intermediate down by 0.2 per cent at US$69.55 per barrel.
The TSX edged up by 7.14 points at 8:56 CDT, trading at 19,662.06 points.
