By Commodity News Service Canada
Winnipeg, January 27 – The Canadian dollar was higher against
its American counterpart Tuesday morning, buoyed by strength in crude
oil and gold.
At 8:40 CST Tuesday morning, the loonie was up 0.0049 of a cent
to US$0.8065 or US$1 = C$1.2340. The loonie was noticeably stronger
following five straight sessions of declines. The possibility of
another rate cut by the Bank of Canada has been weighing on investors,
say analysts.
Tomorrow, the US Federal Reserve will make an announcement on
interest rates while on Friday, the US is due to release its latest
quarterly data.
On the commodity markets the March crude contract in New York
rose 29 cents to US$45.44 a barrel. March copper dipped four cents
to US$2.50 a pound while the February gold contract gained $2.40 to
US$1,281.80 an ounce.
At 8:40 CST Tuesday morning, the TSX was up 18.48 points to
14,797.83.
