Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Oct. 19 (CNS Canada) The Canadian dollar was firmer Wednesday morning, as investors awaited the Bank of Canada’s latest interest rate decision.

At 8:54 CDT Tuesday morning the Canadian dollar was at US$0.7643 or C$1.3084 which compares with Tuesday’s North American close of US$0.7623 or C$1.3119.

The Bank of Canada is generally expected to be keeping its key overnight rate unchanged at 0.5 per cent, but the accompanying statement will be followed closely for signs of future moves.

Crude oil was stronger in early activity, which provided underlying support for the energy-linked Canadian currency.

The TSX was up 31.95 points at 8:53 CDT to sit at 14,784.20.