By Commodity News Service Canada
Winnipeg, April 29 – The Canadian dollar was up against its US counterpart at midday Tuesday, as an earnings report from oilsands giant Suncor Energy buoyed expectations for the energy sector overall.
Suncor posted earnings of C$1.79 billion which widely outperformed initial estimates.
Traders are anxiously watching the US Federal Reserve for signs of when the US government plans to raise short-term interest rates, according to a report.
Canadian bonds are mixed today with low volumes as investors also wait to hear what the US Federal Reserve has to say.
At 11:45 CDT Tuesday, the Canadian dollar was trading at US$0.9125 or US$1.1096, which compares with Monday’s North American close of US$0.9070, or US$=$1.1025.
At 11:45 CDT Tuesday, the Toronto Stock Exchange was up 70.54 points to sit at 14,601.45.
