Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Jan. 27 – The Canadian dollar was slightly weaker Wednesday morning, as it saw some consolidation following Tuesday’s rally. Losses in crude oil put some pressure on values.

At 9:12 CST Wednesday morning the Canadian dollar was at US$0.7089 or C$1.4106 which compares with Tuesday’s North American close of US$0.7105 or C$1.4075.

The US Federal Reserve is scheduled to make its latest policy announcement later in the day. The Fed is generally expected to keep rates steady, after raising them in December, but market participants will still be following the meetings closely for any news.

There were no significant domestic economic releases Wednesday morning.

The TSX was weaker, down 22.19 points at 9:12 CST to sit at 12,309.13.