Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Nov. 10 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, as currency markets reacted to the latest inflation data from the United States.
At 9:09 a.m. CST Wednesday morning, the Canadian dollar was at US$0.8062 or US$1=C$1.2004 which compares with Tuesday’s close of US$0.8033 or US$1=C$1.2448.
U.S. consumer prices rose at an annual rate of 6.2 per cent in October, marking the largest rise in 31 years. Canadian inflation data will be released next week Wednesday.
Crude oil was holding relatively steady in early activity. West Texas Intermediate was down 0.04 per cent at US$84.11 per barrel.
The TSX was weaker, down 16.45 points at 9:09 CST, trading at 21,578.07 points.

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