By MarketsFarm
WINNIPEG, March 6 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, as investors awaited the latest interest rate decision from the Bank of Canada.
At 8:46 CST Wednesday morning the Canadian dollar was at US$0.7475 or C$1.3378 which compares with Tuesday’s North American close of US$0.7493 or C$1.3345.
The Bank of Canada is set to make an announcement on interest rates later in the day. The Bank is generally expected to be holding steady this month, but the accompanying statement will be read closely for signs of future moves. While earlier expectations had been for at least one or two rate increases in 2019, some analysts are now of the opinion that rate cuts could be possible.
Canada’s trade deficit widened to a record high C$4.59 billion in December, according to a report from Statistics Canada.
Crude oil was weaker in early activity.
The TSX was stronger Tuesday morning, up 28.66 points at 8:46 CST to sit at 16,115.20.
END
