By Commodity News Service Canada
WINNIPEG, Nov. 1 (CNS Canada) The Canadian dollar was holding steady Wednesday morning as currency traders await the U.S. Federal Reserve’s latest interest rate decision.
At 9:23 CDT Wednesday morning the Canadian dollar was at US$0.7752 or C$1.2900 which compares with Tuesday’s North American close of US$0.7756 or C$1.2893.
The U.S. Fed is generally expected to be holding rates steady in today’s report, but the accompanying statement will be watched closely for signs on future moves. A new Fed chair will likely be appointed on Thursday, and speculation ahead of President Donald Trump’s decision is also circulating the markets.
Crude oil was stronger early Wednesday, providing some underlying support for the energy-linked Canadian dollar.
The TSX was stronger at 9:23 CDT, up 70.71 points at 16,096.3.
