By Commodity News Service Canada
WINNIPEG, March 5 The Canadian dollar firmed against the US dollar Wednesday morning as traders were awaiting the Bank of Canada’s policy announcement at 9:00 CST.
At 8:41 CST Wednesday the Canadian dollar was at US$0.9025 or US$=C$1.1080, which compares with Tuesday’s North American close of US$0.9009 or US$=C$1.1100.
News of disappointing US employment data helped to support the Canadian dollar, with only 139,000 jobs added to the private sector in February, analysts said. Expectations called for 160,000 new jobs.
Easing fears about the political turmoil between Ukraine and Russia also helped to increase risk appetite, which was supportive for the loonie.
Commodities were slightly weaker Wednesday morning, which helped to limit the Canadian currency’s upside.
Traders were also looking ahead to Friday when Canadian employment data is set to be released by Statistics Canada.
The TSX was up 77.12 points, or 0.54%, at 8:41 CST Wednesday morning to sit at 14,289.86.
