By MarketsFarm
WINNIPEG, March 4 (MarketsFarm) The Canadian dollar was slightly firmer Wednesday morning, as investors await the Bank of Canada’s latest interest rate decision.
At 8:38 CST Wednesday morning the Canadian dollar was at US$0.7495 or C$1.3342 which compares with Tuesday’s North American close of US$0.7483 or C$1.3363.
Investors now generally expect the Bank will cut rates in today’s policy announcement, especially as the United States announced an emergency rate cut on Tuesday. The accompanying statement will be watched closely for future direction, especially in light of the COVID-19 coronavirus and Canadian rail blockades over the past month.
Crude oil was higher in early activity, providing some underlying support for the energy-linked Canadian dollar.
The TSX was up by 258.93 points at 8:38 CST to trade at 16,682.55 points.
