WINNIPEG, April 21 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, as currency traders await the Bank of Canada’s latest interest rate decision.
At 8:38 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.7915 or US$1=C$1.2634 which compares with Tuesday’s North American close of US$0.7954 or US$1=C$1.2572.
The Bank of Canada is generally expected to be holding its key overnight interest rate at the same low level it’s been for the past year of 0.25 per cent. The accompanying statement will be followed closely for any hints on future policy as the country slowly recovers from the pandemic.
Canada’s consumer price index was up by 2.2 per cent on an annual basis in March, which compares with 1.1 per cent annual growth the previous month. Monthly CPI was up by 0.5 per cent in March.
West Texas Intermediate crude oil was down by 2.6 per cent in early activity to trade at US$61.02 per barrel.
The TSX was holding stronger, up by 36.54 points at 8:38 CDT, trading at 19,077.32 points.
Futures Prices as of April 21, 2021
Prices are in Canadian dollars per metric ton