By Commodity News Service Canada
WINNIPEG, Dec. 10 – The Canadian dollar was weaker Wednesday morning, as losses in crude oil and the generally softer tone in the financial markets weighed on the energy-linked currency.
At 9:11 CST Wednesday morning the Canadian dollar was at US$0.8719 or C$1.1469 which compares with Tuesday’s North American close of US$0.8741, or C$1.1440.
OPEC released a forecast today predicting that demand for the oil it produces will decline to 28.9 million barrels a day in 2015, from 29.4 million this year. That projected demand would be the lowest in twelve years.
Currency traders will also be watching for any news out of the Bank of Canada’s Financial System Review, which will be released later Wednesday morning.
The TSX was weaker in early activity, down 174.84 points at 9:11 CST to sit at 14,020.89.
