Loonie Trades Quietly Ahead of Expected Rate Hike
The Canadian dollar is trading quietly ahead of the Federal Open Market Committee (FOMC) meeting, where a 25 basis point rate hike to 4.0% is widely expected.
Oil prices have retreated from their recent peak but remain elevated, with WTI trading at $104.19.
The US dollar has been steady and firm, with the DXY index at 99.68.