By Commodity News Service Canada
WINNIPEG, Sept. 3 The Canadian dollar was firmer relative to the US dollar Wednesday morning, finding some support from optimism that a cease-fire in eastern Ukraine will hold, analysts said.
Ukrainian President Petro Poroshenko and Russian President Vladimir Putin agreed on a cease-fire in eastern Ukraine, Poroshenko said Wednesday.
At 8:43 CST Wednesday the Canadian dollar was at US$0.9161 or US$=C$1.0916, which compares with Tuesday’s North American close of US$0.9149 or US$=C$1.0930.
Spillover support for the Canadian dollar also came from the advances seen in commodity prices, including crude oil and gold.
However, expectations that the Bank of Canada will keep its interest rates unchanged and take on a more dovish stance during its policy announcement later Wednesday were bearish.
The TSX was down 6.65 points, or 0.04%, at 8:43 CST Wednesday morning to sit at 15,619.08.
