Federal Reserve

Federal Reserve: The loonie was ahead 0.14 of a cent to 95.86 cents US as the greenback moved lower in the face of uncertainty as to when the Federal Reserve might start letting up on its monthly US$85 billion of bond purchases, according to Times Colonist. Chinas leadership has faced pressure to replace a worn out economic model after growth slowed to a two-decade low in the second quarter and TORONTO - The Canadian dollar closed higher Monday as risk appetite improved amid further economic and social reforms by the Chinese government. Markets found support Monday from Chinas announcements of more details to its economic and social reform program, including opening state industries to greater competition, loosening its one-child policy and abolishing labour camps. (www.immigrantscanada.com). As reported in the news.