By MarketsFarm
WINNIPEG, June 27 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, backing away from the nine-month highs hit the previous day.
At 8:41 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7596 or US$1=C$1.3165, which compares with Monday’s close of US$0.7604 or US$1=C$1.3151.
Canada’s annual rate of inflation fell to 3.4 per cent in May, from 4.4 per cent the previous month. That marked the smallest increase in two years but was in line with trade expectations. The Consumer Price Index was up by 0.4 per cent monthly, down from 0.7 per cent in April.
Crude oil was softer, with West Texas Intermediate down by 0.46 per cent at US$69.05 per barrel.
The TSX was stronger, gaining 59.73 points at 8:41 CDT, trading at 19,647.05 points.
