By Commodity News Service Canada
WINNIPEG, Feb. 1 (CNS Canada) – The Canadian dollar was weaker Wednesday morning, as a firmer tone in the US dollar index weighed on the currency.
At 9:19 CST Wednesday morning the Canadian dollar was at US$0.7643 or C$1.3084 which compares with Tuesday’s North American close of US$0.7685 or C$1.3012.
US employment data released this morning beat expectations, giving the US dollar a bit of a boost as currency traders adjust positions ahead of the US Federal Reserve’s latest policy announcement.
The Fed is widely expected to be holding rates steady this time, but the accompanying statement will be watched closely for signs of future moves.
Crude oil was higher on Wednesday, which provided some underlying support for the energy-linked Canadian dollar.
The TSX was up by 33.71 points at 9:19 CST to sit at 15,419.67.
