By Commodity News Service Canada
Winnipeg, June 3 – The Canadian dollar was slightly lower Tuesday morning, as an upcoming meeting of the central bank kept trading within a narrow range.
The Bank of Canada is holding a meeting on Wednesday to discuss the policy rate. It is widely expected the rate will stay at 1.00% but traders will be watching for any statements related to the economy.
On the commodity markets, the June crude oil contract rose eight cents to US$102.55 a barrel, which was supportive. July copper fell four cents to US$3.13 a pound, which was bearish. August bullion headed $1.10 cents higher to US$1,245.10, which was bullish.
At 8:45 CDT Tuesday, the Canadian dollar was at US$0.9160 or US$=C$1.0917 which compares with Monday’s North American close of US $0.9176, or US$=C$1.0898.
The TSX was up 76.60 points Tuesday morning at 8:45 CDT, to sit at 14,680.76.
