By Commodity News Service Canada
Winnipeg, February 26 – The Canadian dollar was lower against its American counterpart at midday Thursday, weighed down by losses in crude oil.
The loonie was at US$0.7990 or US$1 = C$1.2515 at 11:45 CST Thursday morning.
Canada’s annual inflation rate dropped from 1.5 percent in December to just 1 percent in January. Cheap gasoline cooled the rate to its lowest point in over a year.
A rise in US durable goods orders was also registered. This has given strength to the US dollar.
On the commodity markets the April crude contract in New York settled lower at US$49.45 a barrel. The April gold contract leaped US$7.50 to US$1,209.10 an ounce.
At 11:45 CST Thursday morning, the Toronto Stock Exchange was up 74.24 points to 15,302.81.
