By MarketsFarm
WINNIPEG, Oct. 29 (MarketsFarm) – The Canadian dollar was slightly weaker Tuesday morning, as declines in crude oil weighed on the energy-linked currency.
At 9:10 CDT Tuesday morning the Canadian dollar was at US$0.7652 or C$1.3069 which compares with Monday’s North American close of US$0.7659 or C$1.3056.
Crude oil was softer amid expectations for rising inventories and a slowdown in demand. The recent death of ISIS leader Abu Bakr al-Baghdadi has also added a new layer of uncertainty to oil markets.
The Bank of Canada and the United States Federal Reserve are both set to make their latest interest rate announcements on Wednesday. Canada is generally expected to be holding rates steady, while investors think there is a good chance the U.S. Fed will lower rates for the third time this year.
The TSX was down by 13.71 points at 9:10 CDT to sit at 16,373.82.
