By Commodity News Service Canada
Winnipeg, July 15 – The Canadian dollar was lower against its US counterpart at midday Tuesday, just a day before the Bank of Canada was expected to make a decision regarding the country’s interest rate.
The central bank is widely expected to keep the rate at one percent. Investors will be keenly watching for any mention of how the bank thinks the economy or currency will do.
Also at issue, is how the government thinks the surging loonie will impact the economy.
The August gold contract fell $7.90 cents to US$1,129.80 an ounce. September copper was unchanged at US$3.25 a pound. The August crude oil contract fell US$1.70 cents to US$99.21 a barrel.
At 11:40 CDT Tuesday, the Canadian dollar was trading at US$0.9288 or US$1.0766, which compares with Monday’s North American close of US$0.9333, or US$=$1.0715.
At 11:40 CDT Tuesday, the Toronto Stock Exchange was down 99.90 points to sit at 15,071.33.
