By Commodity News Service Canada
Oct. 4 (CNS Canada) – Currency analysts surveyed by Reuters
news agency have raised forecasts for the Canadian dollar in the
wake of an agreed upon deal to form a new trade agreement
between the United States, Mexico and Canada. More than 50
analysts in the poll saw the loonie’s value as rising during the
next year to 80 US cents, or C$1.2500. However, the consensus
also said the Canadian dollar in the short-term would stay near
78.13 U.S. cents, or C$1.2800.
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a.m. CDT. It closed Oct. 3 at US$0.7793, or C$1.2832.
Italian officials are threatening to ignore European Union
spending guidelines, prompting fears that if other EU members
follow suit, it could force the value of the euro lower.
With a new NAFTA-like agreement in place, financial
analysts now expect the Bank of Canada will raise its interest
rates Oct. 25.
The S&P/TSX composite index has fallen 48.24 points, or
0.30 per cent in early trading, to 16,023.81 at 8:43 CDT.
West Texas Intermediate (WTI) crude oil was at US$75.54 per
barrel, up 87 U.S. cents.
