By Commodity News Service Canada
Winnipeg, September 10 – The Canadian dollar was little changed Wednesday morning, as markets prepare for next week’s meeting of the US Federal Reserve.
Some analysts feel the US central bank could be poised to take a more hawkish tone on interest rates. At least one banking expert expects the feds to tie the rate to a path that takes into account inflation, employment and market conditions. It is widely expected rates will get hiked by the middle of next year.
The upcoming vote on Scottish Independence continues to cause uncertainty on the market, according to a report.
On the commodity markets, the October crude oil contract dropped US$0.20 to US$92.55 a barrel. December copper rose one cent to US$3.11 a pound, which was supportive. December bullion rose $1.00 to US$1,249.50 an ounce.
At 8:45 CDT Wednesday, the Canadian dollar was at US$0.9106 or US$=C$1.0981 which compares with Tuesday’s North American close of US $0.9115, or US$=C$1.0971.
The TSX was up 27.42 points Wednesday morning at 8:45 CDT, to sit at 15,536.81.
