By Commodity News Service Canada
Winnipeg, September 3 – The Canadian dollar was stronger against its US counterpart at midday Wednesday, as the Bank of Canada confirmed it was leaving the interest rate at 1%.
The central bank said new information would be looked at to determine how and when the rate should be adjusted in the future. It is widely expected that sometime next year the interest rate will change.
The markets also responded to speculation of a potential cease-fire in eastern Ukraine.
The December copper contract fell two cents to US$3.14 pound. The October crude oil contract jumped US$1.50 to US$94.38 a barrel. December gold rose 80 cents to $1,268.10 an ounce.
At 11:50 CDT Wednesday, the Canadian dollar was trading at US$0.9196 or US$1.0874, which compares with Tuesday’s North American close of US$0.9149, or US$=$1.0930.
At 11:50 CDT Wednesday, the Toronto Stock Exchange was down 31.57 points to sit at 15,650.65.
