By Commodity News Service Canada
Winnipeg, March 17 – The Canadian dollar was little changed against its American counterpart at midday Tuesday, as traders speculated about the upcoming results of a meeting by the US Federal Reserve.
The loonie was at US$0.7831 or US$1 = C$1.2769 at 11:45 CDT Tuesday morning.
The US central bank began its two-day meeting on interest rates today. At this point it’s believed the bank could hike the main rate by June or September. US equalities have been hard hit by the possibility of a hike.
Bombardier Inc. signed a letter of intent to sell 20 of its CS100 aircrafts to a Malaysian air carrier.
Apple Inc. climbed 1.2 percent as it has apparently decided to start accepting non-Apple devices as trade-ins.
On the commodity markets the April crude contract in New York fell 0.92 to US$42.96 a barrel. The April gold contract fell US$1.30 to US$1,151.10 an ounce. The May copper contract fell four cents to US$2.63 a pound.
At 11:45 CDT Tuesday morning, the Toronto Stock Exchange was down 53.83 points to 14,808.49.
