By Commodity News Service Canada
WINNIPEG, July 20 (CNS Canada) The Canadian dollar was stronger Friday morning, recovering from its recent declines as better-than-expected inflation data provided support.
At 9:08 CDT Friday morning the Canadian dollar was at US$0.7615 or C$1.3132 which compares with Thursday’s North American close of US$0.7544 or C$1.3255.
Canada’s annual inflation rate jumped to 2.5 per cent in June, from 2.2 per cent the previous month, according to a report from Statistics Canada. Monthly retail sales data was also solid.
However, global trade uncertainty remained a bearish influence in the background of the currency markets.
The TSX was weaker at 9:08 CDT, down 72.91 points at 16,470.10.
