By Commodity News Service Canada
WINNIPEG, June 17 The Canadian dollar was slightly weaker on Tuesday due to no major economic news being released. The Canadian Dollar will be looking for broader markets for guidance.
At 9:18 CDT Tuesday morning, the Canadian Dollar was at US$0.9198 or US$ = C$1.0865, falling 0.26 of a cent from Monday’s close of US$0.9223 or $US = C$1.0863.
The U.S. Federal Reserve is beginning a two-day meeting that is expected to give an update on how the central bank thinks the U.S. economy is doing. The update is being done as the International Monetary Fund revised its growth forecast for the U.S., which indicated that the U.S. will only grow 2 per cent this year, down from its previous prediction of 2.7 per cent.
Read Also
Canadian Financial Close: Loonie up as U.S. markets tumble
Glacier FarmMedia — The Canadian dollar regained some ground on Friday as its United States counterpart struggled. The loonie closed…
The World Bank also changed its estimates last week, slashing its 2014 global growth from 3.2 per cent to 2.8 percent, due to the long winter in the U.S. and political crisis in Ukraine.
On the commodity markets, the July crude oil contract was at US$106.39 a barrel, dropping from the previous day of US$107.02 a barrel. August gold bullion lost $7to US$1,268.30 an ounce. July copper was up a penny at US$3.06 a pound.
The TSX was down 10.62 points to sit at 9:18 CDT Tuesday morning to sit at 15,029.81.
