By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar pulled back on Wednesday morning, following the Bank of Canada’s announcement to freeze its key interest rates at 2.75 per cent.
As of 8:56 am CDT, the loonie was at US$0.7239 or US$1=C$1.3814 compared to Tuesday’s close of US$0.7262 or US$1=C$1.3771.
Later today at 1 p.m., the United States Federal Reserve will make its key rate move. Analysts believe the Fed will standpat again.
On the U.S. Dollar Index, the greenback advanced 0.633 of a point at 99.280.
Benchmark crude oil prices nudged up on Wednesday morning as the positive momentum this week has started to fade as the Trump administration threatened China and India with trade sanctions for buying Russian oil.
West Texas Intermediate gained 45 cents at US$69.66 and Brent crude oil rose 43 cents at US$72.94 per barrel.
Following declines at the start of Wednesday’s session, the TSX/S&P Composite Index turned around to tack on 23.36 points at 27,563.24.
Gold lost US$24.00 at US$3,357.20 per ounce.
