By Commodity News Service Canada
Winnipeg, June 2 – The Canadian dollar was lower Monday morning, as investors moved to the US dollar ahead just two days before the Bank of Canada delivers its next announcement on interest rates.
The central bank is expected to keep the rate steady at 1.00%, but investors will be looking to see if it flags concerns about low inflation.
On the commodity markets, the July crude oil contract rose 10 cents to US$102.81 a barrel, which was supportive. July copper rose four cents to US$3.16 a pound, which was bullish. July bullion headed 80 cents higher to US$1,246.80, which was also bullish.
At 8:50 CDT Monday, the Canadian dollar was at US$0.9175 or US$=C$1.0899 which compares with Friday’s North American close of US $0.9223, or US$=C$1.0842.
The TSX was up 17.99 points Monday morning at 8:50 CDT, to sit at 14,646.78.
