Canadian Forex Midday: C$ Climbs With Brent Crude Oil

By Commodity News Service Canada.

Winnipeg, September 8 – The Canadian dollar was higher against its US counterpart at midday Tuesday, pushed higher by rising prices for Brent crude oil and in anticipation of Wednesday’s Bank of Canada decision on interest rates.

The Canadian dollar was at US$0.7568 or US$1 = C$1.3213 at 11:50 CDT Tuesday.

Canada’s central bank is generally expected to hold the line on interest rates until 2017, analysts say.

The Canadian dollar was said to be outperforming the Euro, Yen and Swiss Franc at midday Tuesday.

Canadian government bonds were also lower across the maturity curve.

On the commodity markets the September crude contract in New York declined US$0.29 to US$45.76 a barrel. The September gold contract advanced US$2.90 to US$1,124.30 an ounce.

At 11:50 CDT Tuesday, the Toronto Stock Exchange was up 163.83 points to 13,642.98.