By Commodity News Service Canada
WINNIPEG, Jan. 9 (CNS Canada) – The Canadian dollar is up Wednesday morning ahead of this morning’s announcement on interest rates from Bank of Canada Governor Stephen Poloz.
At 8:43 CST Wednesday morning the Canadian dollar was at US$0.7560 or C$1.3223, which compares with Tuesday’s North American close of US$0.7511 or C$1.3310.
Poloz will announce at 9:00 CST Wednesday morning whether he will increase the bank’s prime interest rate, or as the financial sector largely expects, freeze it for the time being. There are signs the Canadian economy has been slowing down. The current rate of 1.75 per cent was set in October.
The TSX/S&P Composite Index was up 63.38 points Wednesday morning at 14,668.53.
Oil prices are up Wednesday morning and over the US$50 per barrel mark. West Texas Intermediate crude is at US$51.15 per barrel after closing Tuesday at US$49.78.
Gold is up by 50 cents Wednesday morning to US$1,286.40 per ounce.
