WINNIPEG, March 10 (MarketsFarm) – The Canadian dollar stayed steady on Wednesday morning while investors waited for the latest interest rate decision from the Bank of Canada due later in the day. The Bank is generally expected to be holding its key overnight rate steady at 0.25 per cent.
As of 8:33 a.m. CST, the Canadian dollar was at US$0.7919 or US$1=C$1.2628, compared to US$0.7915 or US$1=C$1.2635 when markets closed on Tuesday.
Most benchmark oil prices rose on Wednesday morning hours before the United States Energy Information Administration (EIA) releases its crude oil inventory report.
Brent crude oil increased by US$0.74 per barrel to US$68.26. West Texas Intermediate (WTI) moved upward by US$0.73 to US$64.74/barrel. Western Canadian Select (WCS) jumped by US$0.76 at US$53.42/barrel.
In anticipation of the US$1.9 trillion relief package to be passed by the U.S. House of Representatives later today and following a record-high close on Tuesday, the TSX/S&P Composite Index began Wednesday even higher, rising by 76.74 points to 18,673.56.
Gold inched upward by US$1.23 to US$1,717.33 per ounce.
