By MarketsFarm
WINNIPEG, June 17 (MarketsFarm) The Canadian dollar was weaker Friday morning, dipping below 77 U.S. cents as mounting concerns over a global recession weighed on riskier assets.
At 8:38 a.m. CDT Friday morning the Canadian dollar was at US$0.7670 or C$1.3038 which compares with Thursday’s North American close of US$0.7735 or C$1.2928.
Canada’s Industrial Product Price Index was up by 1.7 per cent in May compared with the previous month, having risen 15.0 per cent on an annual basis, according to a report from Statistics Canada. The country’s Raw Materials Price Index was up by 2.5 per cent monthly and 37.4 per cent on the year.
Crude oil was softer in early trade, with West Texas Intermediate down by 1.61 per cent at US$113.39 per barrel.
The TSX was up by 103.59 points at 8:38 CDT to trade at 19,107.65 points.
