By Commodity News Service Canada
Winnipeg, October 27 – The Canadian dollar was slightly lower against its US counterpart Monday morning, as traders waited for information detailing the level of American economic strength.
On Wednesday, the US Federal Reserve is scheduled to make its next announcement on interest rates and quantitative easing. Market-watchers will also be looking for data that shows gross domestic product grew by an annualized rate of three percent during the third quarter.
Meantime, new information revealed that 13 of Europe’s 130 biggest banks failed an in-depth review of their finances.
On the commodity markets, December bullion dipped $3.50 to US$1,238.30 an ounce.
At 8:45 CDT Monday, the Canadian dollar was at US$0.8893 or US$=C$1.1245 which compares with Friday’s North American close of US $0.8902, or US$=C$1.1233.
The TSX was up 56.99 points Monday morning at 8:45 CDT, to sit at 14,543.82.
