By Commodity News Service Canada
Winnipeg, October 17 – The Canadian dollar was higher against its US counterpart Friday morning, as new information suggested inflationary pressures had temporarily subsided.
Canada’s inflation rate was reported at 2.0 percent in September, following a 2.1 percent the previous month. The loonie also received a bump from speculation further stimulus could be coming from the US Federal Reserve.
There are suggestions the US should consider delaying the end of its bond purchase program, in a bid to further decrease inflation.
On the commodity markets, the November crude oil contract rose $0.82 to US$83.52 a barrel. December copper was little changed at US$2.98 a pound. December bullion dipped $2.50 to US$1,238.70 an ounce.
At 8:45 CDT Friday, the Canadian dollar was at US$0.8891 or US$=C$1.1247 which compares with Thursday’s North American close of US $0.8890, or US$=C$1.1248.
The TSX was up 181.63 points Friday morning at 8:45 CDT, to sit at 14,234.60.
