By Commodity News Service Canada
Sept. 7 (CNS Canada) – The Canadian dollar, lifted by yesterday’s Bank of Canada interest rate hike, continued the bounce this morning. It was up 0.72 cents U.S. trading at US$0.8226 or C$1.2157. It closed Wednesday at US$0.8154 or C$1.2264 per US$1.
Hudson’s Bay Co. has reportedly hired an investment bank to explore its financial options, which include being sold to a private investor or selling off some foreign assets. That’s according Land & Building Investment, one of Hudson’s Bay’s minority shareholders, which has expressed unhappiness with HBC’s management.
Markets will be closely watching as several U.S. Federal Reserve officials are scheduled to give talks. Earlier this week Federal Reserve Governor Lael Brainard hinted that the Fed many slow its pace of interest rate hikes because of lower-than-expected inflation.
The S&P/TSX continued yesterday’s trend in early trading today, falling 13.81 points (0.09%)to 15,046.02 at 8:40 a.m. CDT.
