By Commodity News Service Canada
Winnipeg, March 5 – The Canadian dollar was lower against its American counterpart Thursday morning, as the effects of a decision by the Bank of Canada continued to ripple through the financial community. The central bank announced it was leaving the key rate unchanged at 0.75 percent.
At 8:55 CST Thursday morning, the loonie was down 0.0023 of a cent to US$0.8026 or US$1 = C$1.2460. Back in January the Bank of Canada surprised markets by cutting the rate a quarter point.
Traders are now eagerly waiting for the US government’s employment report for February. That is due on Friday. Analysts expect that 235,000 jobs were created last month.
Read Also
Canadian Financial Close: Loonie steady, mercurial day for gold
Glacier FarmMedia — The Canadian dollar stayed put on Friday, maintaining its 0.24 U.S. cent gain from the previous week….
The European Central Bank left interest rates unchanged on Thursday. There is word it tends to start printing more money as part of a quantitative easing campaign.
On the commodity markets the April crude contract in New York rose US$0.48 to US$52.10 a barrel. May copper fell one cent to US$2.65 a pound while the April gold contract gained $1.90 to US$1,202.80 an ounce.
At 8:55 CST Thursday morning, the TSX was up 46.60 points to 15,129.82.
