By MarketsFarm
WINNIPEG, June 16 (MarketsFarm) – The Canadian dollar was holding steady Wednesday morning, as currency traders await the latest policy announcement from the United States Federal Reserve due out later in the day.
At 8:40 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.8206 or US$1=C$1.2186 which compares with Tuesday’s North American close of US$0.8205 or US$1=C$1.2188.
Canada’s Consumer Price Index increased by 3.6 per cent on an annual basis in May, up from 3.4 per cent the previous month, according to a report from Statistics Canada. The inflation rate beat expectations and marked the fast pace in a decade.
Canadian wholesale sales were up by 0.4 per cent in April, hitting C$71.5 billion, according to Statistics Canada.
Crude oil was slightly weaker in early activity, with West Texas Intermediate crude oil down by 0.1 per cent at US$72.06 per barrel.
The TSX was stronger, up by 28.96 points at 8:40 CDT, trading at 20,260.28 points.
