By MarketsFarm
WINNIPEG, Dec. 18 (MarketsFarm) The Canadian dollar was slightly stronger on Tuesday, inching just above 76 U.S. cents.
At 8:50 CST, the Canadian dollar was at US$0.7616 or C$1.3130, which compares with Tuesday’s North American close of US$0.7599 or C$1.3160.
Stocks were mixed following reports that Canada’s annual rate of inflation increased by more than expected in November. Statistics Canada said the consumer price index rose by 2.2 per cent when compared to a year ago. Prior to that, the consumer price index had been steady at 1.9 per cent for three consecutive months.
Oil prices retreated from previous highs following reports that United States stockpiles were higher than originally expected. Brent Crude was down by 5 cents at US$65.72 per barrel, and West Texas Intermediate (WTI) was down by 14 cents at US$60.40 per barrel.
The TSX was slightly weaker at 9:00 CST, down by 56.20 points at 17,018.81. The S&P 500 Index was up 1.68 points to hit 3,194.16. The Dow Jones gained 18.86 points at 28,285.76. The NASDAQ increased, up 8.73 to hit 8,830.58.
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