By MarketsFarm
WINNIPEG, Oct. 13 (MarketsFarm) – The Canadian dollar was weaker Thursday morning, as inflation data out of the United States beat expectations.
At 9:06 a.m. CDT Thursday morning the Canadian dollar was at US$0.7190 or US$1=C$1.3908, which compares with Wednesday’s close of US$0.7245 or US$1=C$1.3802.
The U.S. consumer price index was up by 0.4 per cent monthly in September, which came in above trade estimates and solidified ideas that the country will continue to hike interest rates. The resulting strength in the U.S. dollar accounted for the relative weakness in the Canadian currency.
Losses in crude oil also weighed on the energy-linked currency. West Texas Intermediate crude oil was down by 0.5 per cent at 86.84 per barrel.
The TSX was down by 178.05 points at 9:06 CDT, trading at 18,028.23 points.
