By MarketsFarm
WINNIPEG, Nov. 1 (MarketsFarm) – The Canadian dollar was stronger Tuesday morning as broad weakness in the United States dollar internationally provided some support.
At 8:47 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7380 or US$1=C$1.3550, which compares with Monday’s close of US$0.7327 or US$1=C$1.3649.
Positioning ahead of the U.S. Federal Reserve’s upcoming interest rate announcement on Wednesday was a feature in the currency markets, with general expectations for another 75-point hike from the central bank.
Crude oil was stronger in early activity despite concerns over slowing demand from China. West Texas Intermediate was up by 2.9 per cent at US$89.07 per barrel.
The TSX was up by 265.35 points at 8:48 CDT, trading at 19,691.49 points.
