By Commodity News Service Canada
Winnipeg, September 16 – The Canadian dollar was higher against its US counterpart at midday Tuesday, as traders positioned themselves ahead of a key speech by the Bank of Canada.
Governor for the central bank, Stephen Poloz, was scheduled to talk about the role of the floating exchange rate in Canada. Investors are anxious to hear what he thinks about the loonie’s ties to exports.
According to Statistics Canada, the country’s manufacturing sector posted record sales in July with gains of 2.5 percent. Analysts had expected a rise of just one percent.
The looming referendum on Scottish Independence, set for Thursday, is raising tensions.
The December copper contract rose two cents to US$3.10 a pound. The October crude oil contract lost 12 cents to hit US$92.80 a barrel. December gold jumped US$1.20 to $1,236.30 an ounce.
At 11:50 CDT Tuesday, the Canadian dollar was trading at US$0.9107 or US$1.0981, which compares with Monday’s North American close of US$0.9050, or US$=$1.1050.
At 11:50 CDT Tuesday, the Toronto Stock Exchange was up 43.16 points to sit at 15,525.72.
