By Commodity News Service Canada
WINNIPEG, Dec. 19 (CNS Canada) The Canadian dollar was firmer Wednesday morning, seeing some consolidation after dropping to its weakest levels in 18 months on Tuesday.
At 9:16 CST Wednesday morning the Canadian dollar was at US$0.7443 or C$1.3435 which compares with Tuesday’s North American close of US$0.7433 or C$1.3454.
Canada’s consumer price index rose by 1.7 per cent on an annual basis in November, according to a report from Statistics Canada. That compares with the 2.4 per cent increase the previous month, and marks the smallest year-on-year increase since January 2017.
The United States Federal Reserve is set to make an announcement on interest rates Wednesday afternoon. Market participants generally expect the Fed will be raising its key overnight rate and will be following the accompanying statement closely.
North American equity markets were stronger early Wednesday. The TSX was up by 88.50 points at 9:16 CST, at 14,505.39. Crude oil was also stronger in early activity.
