By Commodity News Service Canada
Winnipeg, June 18 The Canadian dollar was slightly firmer on Wednesday morning, as traders were waiting on the latest policy decision from the U.S. Federal Reserve.
At 9:00 CDT Wednesday morning, the Canadian Dollar was at US$0.9207 or US$ = C$1.0852, rising slightly from Tuesday’s close of US$0.9198 or US$ = C$1.0865.
The U.S. Federal Reserve is currently in a meeting that is expected to give an update on how the central bank thinks the U.S. economy is doing. Their announcement is expected at 1:00 pm CDT. Traders are anticipating that the U.S. central bank will cut the monthly bond buyback program by US$10 billion to US$35 billion on signs of a slowly recovering economy.
Other commodities have risen with the increasing violence in Iraq. The July crude oil contract was up 23 cents to USA$106.59 a barrel. August old bullion gained 40 cents to US$1.272.40 an ounce and meanwhile July copper remained the same at US$3.06 a pound.
The TSX was up 26.73 points to sit at 15,082.62 at 9:00 CDT Wednesday morning.
