Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 20 (MarketsFarm) – The Canadian dollar gave up more ground to its United States counterpart on Tuesday morning.
As of 8:36 am CDT, the Canadian dollar was at US$0.7499 or C$1.3335, compared to Monday’s close of US$0.7526 or C$1.3288.
On the U.S. Dollar Index, the greenback pushed higher 0.4139 of a point at 109.905.
The rate of inflation eased back in August, according to Statistics Canada on Tuesday. The federal agency said inflation for that month was seven per cent compared to a year ago, down from 7.6 per cent in July.
Benchmark crude oil prices were a pinch lower on Tuesday morning, due to that stronger U.S. dollar.
Brent crude oil gave up 58 cents at US$91.42 per barrel. West Texas Intermediate (WTI) lost 73 cents at US$85.00/barrel. Meanwhile, Western Canadian Select (WCS) bumped up 76 cents at US$64.68/barrel.
At the opening, the TSX/S&P Composite Index slipped 64.74 points at 19,493.64.
Gold was down US$3.70 at US$1,674.50 per ounce.
