By MarketsFarm
WINNIPEG, Nov. 2 (MarketsFarm) – The Canadian dollar was holding relatively steady Wednesday morning, as the currency markets await the latest interest rate announcement from the United States Federal Reserve.
At 8:41 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7350 or US$1=C$1.3605, which compares with Tuesday’s close of US$0.7345 or US$1=C$1.3614.
General expectations are that the Fed will announce another 75-point hike, although some analysts believe a more modest 50-point hike could be possible.
Crude oil was also holding relatively steady in early activity, with ongoing concerns over a global economic slowdown overhanging the energy markets. West Texas Intermediate was down by 0.2 per cent at US$88.21 per barrel.
The TSX was down by 50.82 points at 8:41 CDT, trading at 19,466.89 points.
