Glacier FarmMedia — The Canadian dollar was softer Wednesday morning ahead of the latest policy announcements from the Bank of Canada and the United States Federal Reserve.
- At 8:36 a.m. CDT the Canadian dollar was trading at US$0.7289 or US$1=C$1.3719 which compares with Tuesday’s close of US$0.7300 or US$1=C$1.3699.
- Most analysts expect the Bank of Canada will leave interest rates unchanged in today’s policy announcement, but the accompanying statements will be followed closely with the ongoing war in the Middle East raising inflationary concerns. The U.S. Federal Reserve will also make its latest interest rate decision later in the day, while the European Central Bank, the Bank of England and the Bank of Japan will follow on Thursday.
- Foreign investors purchased C$46.7 billion of Canadian securities in January while Canadians acquired C$11.4 billion of foreign securities, resulting in a net inflow of C$35.3 billion into the Canadian economy, reported Statistics Canada.
- Crude oil was stronger, with West Texas Intermediate up 1.62 per cent at US$97.15 per barrel.
- Gold was 2.81 per cent lower at US$4,867.70 per ounce.
- The TSX was down 368.42 points at 8:36 CDT to trade at 32,560.67.
Read Also
Canadian financial close: C$ weaker Tuesday
Glacier FarmMedia — The Canadian dollar was softer on Tuesday, as currency traders adjusted positions ahead of policy announcements from…
