By Commodity News Service Canada
Winnipeg, May 21 – The Canadian dollar was lower against its US counterpart at midday Wednesday, due to a decline in metal prices.
The July copper contract fell two cents to US$3.12 a pound, while June gold faded $4.50 to US$1,290.10 an ounce.
July crude oil gained $1.07 to US$103.40 a barrel, which was bullish.
Investors are keenly waiting to hear statements from the US Federal Reserve, which is meeting today to discuss the interest rate. Minutes from the meeting will be scrutinized to see if they can shed light on whether or not the rate will be hiked, said analysts.
At 11:40 CDT Wednesday, the Canadian dollar was trading at US$0.9145 or US$1.0935, which compares with Tuesday’s North American close of US$0.9175, or US$=$1.0899.
At 11:40 CDT Wednesday, the Toronto Stock Exchange was up 74.50 points to sit at 14,599.69.
