By Commodity News Service Canada
WINNIPEG, July 29 – The Canadian dollar weakened against its
US counterpart Wednesday morning ahead of a US Federal Reserve policy
announcement and as Statistics Canada released a report on railway
carloadings.
At 8:50 a.m. CDT the Canadian dollar was at US$0.7725 or C$1.2945
which compares with Tuesday’s North American close of US$0.7736, or
C$1.2927.
The US Federal Reserve is wrapping up a two-day meeting, and
is expected to make a monetary policy announcement Wednesday.
The volume of rail freight carried in Canada totaled 30-million
tonnes in May, down 7.2 per cent from the same month last year,
Statistics Canada said in a report on Wednesday.
According to StatsCan, freight originating in Canada and
destined within Canada and to other parts of the world declined 5.8
per cent to 26.9-million tonnes.
The TSX was stronger in early activity, up 2.81 points at 8:50
a.m. CDT to sit at 14,089.03.
