Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 14 (MarketsFarm) – The Canadian dollar was lower on Wednesday morning, in light of little movement in the United States dollar.
As of 8:31 am CST, the loonie was at US$0.7371 or C$1.3568, compared to Tuesday’s close of US$0.7382 or C$1.3547. On the U.S. Dollar Index, the greenback was relatively steady dipping slightly 0.037 of a point at 103.530.
The U.S. Federal Reserve will make its last interest rate announcement of 2022 today at 1 pm CST. Expectations are for the central bank’s Federal Open Market Committee to hike its key rate by 50 basis points.
Benchmark crude oil prices were higher on Wednesday morning, on prospects of greater demand in 2023, but with the Fed’s pending announcement tempering larger increases.
Brent crude oil bumped up US$1.46 at US$82.14 per barrel. West Texas Intermediate (WTI) tacked on US$1.43at US$76.82/barrel. Meanwhile, Western Canadian Select (WCS) gained US$1.17 at US$47.82/barrel.
Shortly after Wednesday’s open the TSX/S&P Composite Index eased back 14.70 points at 20,008.47.
Gold lost US$5.10 at US$1,820.40 per ounce.
