Canadian Forex Midday: C$ Fades Amid Worries Over Greece
By Commodity News Service Canada
Winnipeg, June 16, 2015 (CNS Canada) – The Canadian dollar was slightly lower against its US counterpart at midday Tuesday, as international worries intensified over the chance Greece will default on its debt or leave the single currency.
The loonie was at US$0.8107 or US$1 = C$1.2335 at 11:35 CDT Tuesday morning. Stocks were down around the world while the US dollar strengthened amid t0he volatility.
Analysts don’t believe the US Central Bank will hike the interest rate anytime soon in the wake of its two-day meeting.
The price of crude oil increased as a tropical storm approached Texas, said analysts.
On the commodity markets the July crude contract in New York rose US$0.63 to US$60.15 a barrel. The August gold contract decreased US$6.80 to US$1,178.50 an ounce.
At 11:35 CDT Tuesday morning, the Toronto Stock Exchange was down 31.90 points to 14,724.15.
