By Commodity News Service Canada
WINNIPEG, Oct. 24 The Canadian dollar was firmer relative to the U.S. dollar Friday morning, as traders were squaring positions ahead of the U.S. Federal Reserve’s interest rate announcement next week, analysts said.
At 9:00 CDT Friday the Canadian dollar was at U.S.$0.8925 or U.S.$=C$1.1204, which compares with Thursday’s North American close of U.S.$0.8902 or U.S.$=C$1.1233.
Strength in gold prices was also supporting the Canadian dollar, though weakness in crude oil tempered the advances.
Traders were being cautious amid news of the first case of Ebola in New York City. A doctor who returned from Guinea last week is being treated for the virus at Manhattan’s Bellevue Hospital, reports say.
There was no significant Canadian economic data released on Friday. Next week, Canadian gross domestic product data for August will come out, and should provide direction for the currency.
The TSX was down 19.60 points, or 0.14%, at 9:00 CDT Friday morning to sit at 14,467.23.
