By Commodity News Service Canada
Winnipeg, June 2 – The Canadian dollar was lower against its US counterpart at midday Monday, as traders awaited a decision by the Treasury Board on whether or not to adjust the interest rate.
The rate currently sits at 1.00% and is not expected to change. However investors are keenly interested to hear what the bank will say about the effects of inflation on the economy.
In commodity markets, the July crude oil contract fell 34 cents to US$102.37 a barrel, which was bearish.
July copper rose four cents to US$3.17 a pound, which was bullish while the gold sector was relatively unchanged. July bullion sits at US$1,244.40 an ounce
At 11:45 CDT Monday, the Canadian dollar was trading at US$0.9171 or US$1.0904, which compares with Friday’s North American close of US$0.9223, or US$=$1.0842.
At 11:45 CDT Monday, the Toronto Stock Exchange was down 26.54 points to sit at 14,658.61.
