By Commodity News Service Canada
Winnipeg, June 4 – The Canadian dollar was slightly lower Wednesday morning, as investors prepared for what is widely expected to be a slightly dovish outlook from the Bank of Canada.
The central bank is expected to leave its key rate at one percent, where it’s been since September of 2010.
Statistics Canada released numbers showing Canada’s merchandise exports slipped 1.8% while imports increased by 1.4%.
On the commodity markets, the July crude oil contract rose 64 cents to US$103.30 a barrel, which was supportive. July copper fell five cents to US$3.09 a pound, which was bearish. August bullion headed $3.30 cents higher to US$1,247.80, which was bullish.
At 8:40 CDT Wednesday, the Canadian dollar was at US$0.9160 or US$=C$1.0917 which compares with Tuesday’s North American close of US $0.9166, or US$=C$1.0910.
The TSX was up 53.97 points Wednesday morning at 8:40 CDT, to sit at 14,734.69.
