- Category: Economic
- Published Wednesday, January 27, 2016
- CTV News
TORONTO - The Canadian dollar and Toronto Stock Exchange showed improvements Wednesday morning as oil prices improved.
The S&P/TSX composite index had been down shortly after the open but were up 14.6 points at 12,345.92, after 90 minutes of trading.
American stock indexes remained in the red, about three hours before the U.S. Federal Reserve's release of its latest interest rate decision at 2 p.m. ET.
The Dow Jones Industrials average was down 118.27 points at 16,048.96, the broader S&P 500 index declined 9,.74 points to 1,897.63 and the Nasdaq 100 shed 57.44 points to 4,176.41.
The loonie was down 0.09 of a cent at 70.94 cents US, after closing Tuesday above 71 cents US for the first time since Jan. 6.
Canada's dollar has been trading near or just above 13-year lows for weeks as a result of a number of factors, including the increased spread in American and Canadian interest rates, the falling value of major commodities and slow economic growth.