The loonie was up 0.09 of a cent to
The loonie had tumbled 3/4 of U.S. cent on Friday in the wake of disappointing jobs data that saw the loss of 9,500 jobs during June.
The central bank is universally expected to leave its key rate at one per cent, where it has been for almost four years. That means traders will particularly focus on the bank's assessment of how the economy is performing amid rising inflation.
"We will also be looking for any comments about the recent strengthening of the Canadian dollar and the risks that it may pose for their assumption of strengthening exports," said
The currency has lately been hovering around the
Investors will also focus on monetary policy testimony from U.S. Federal Reserve chair
"While much of the impact of the semi-annual address has waned with the (Fed) now providing quarterly forecast updates, we would expect some questions on the timing of future rate increases," added Chandler.
"Also on Wednesday, the (Fed's latest regional economic survey) will be released and should, on the basis of recent job figures, be a relatively upbeat compendium of economic conditions."
Commodities were lower as August crude on the
Metals also declined with September copper down a cent to
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