Canadian Forex Midday: C$ weaker ahead of Fed announcement

By Commodity News Service Canada

WINNIPEG, Sept. 17 – The Canadian dollar was weaker at midday Thursday, although activity was thin and choppy as currency traders await the US Federal Reserve’s interest rate decision.
At 11:45 CDT, the Canadian dollar was trading at US$0.7575 or US$1=C$1.3201 which compares with Wednesday’s close of US$0.7592 or US$=C$1.3171.
The US Fed is expected to announce its decision on whether or not it will raise interest rates at 1:00 pm CDT. Opinions are divided on what the Fed will due, but an interest rate hike, or even an indication of a future hike, would provide a boost for the US dollar – which would weigh on the Canadian currency.
Crude oil was weaker on Thursday, which put some pressure on the energy-linked Canadian dollar.
At midday Thursday the Toronto Stock Exchange was weaker, down 19.13 points at 11:45 CDT, to sit at 13,744.65.