By Commodity News Service Canada
Winnipeg, June 3 – The Canadian dollar was moderately lower against its US counterpart at midday Tuesday, as markets speculated about what message the Bank of Canada will deliver on Wednesday.
The policy rate currently sits at 1.00% and is not expected to change. Traders will be looking for comments on inflation and other key indicators though.
In commodity markets, the June crude oil contract rose eight cents to US$102.55 a barrel, which was supportive.
July copper dropped four cents to US$3.13 a pound, which was bearish while August bullion gained $1.10 to US$1,245.10 an ounce, which was bullish.
At 11:35 CDT Tuesday, the Canadian dollar was trading at US$0.9164 or US$1.0912, which compares with Monday’s North American close of US$0.9176, or US$=$1.0898.
At 11:35 CDT Tuesday, the Toronto Stock Exchange was up 31.87 points to sit at 14,712.59.
