By Commodity News Service Canada
Winnipeg, January 26 – The Canadian dollar was slightly lower against its American counterpart Monday morning, ahead of an announcement by the US Federal Reserve. The American central bank is widely expected to begin adjusting interest rates later this year and traders will be watching for any signs of when that will take place.
At 8:40 CST Monday morning, the loonie was down 0.0002 of a cent to US$0.8038 or US$1 = C$1.2441. Canadian gross domestic product data is due to be released this week and analysts expect it will show Canada’s GDP grew by 0.1 percent in November.
Read Also
Canadian Financial Close: Loonie up as U.S. markets tumble
Glacier FarmMedia — The Canadian dollar regained some ground on Friday as its United States counterpart struggled. The loonie closed…
Markets are also tense following the election of an anti-austerity party in Greece. The Syriza party has pledged to confront the Eurozone over the terms surrounding the country’s bailout. Syriza party leader Alexis Tsipras has promised to renegotiate Greece’s loan agreements with its major creditors.
On the commodity markets the March crude contract in New York rose 25 cents to US$45.84 a barrel. March copper rose one cent to US$2.51 a pound while the February gold contract declined $9.80 to US$1,282.80 an ounce.
At 8:50 CST Monday morning, the TSX was up 15.37 points to 14,779.35.
