By Commodity News Service Canada
Winnipeg, March 21 – The Canadian dollar rallied Friday morning on
the strength of Canada’s consumer price index, which came closer to the
Bank of Canada’s medium-term forecast.
Statistics Canada says consumer prices rose 1.1% in the 12 months
up to February, well ahead of the market forecast of 0.9%, but behind
the 1.5% reading in January.
Robust retail sales numbers, showing a 1.3% rise in January, also
helped out the loonie.
At 8:45 CDT Friday, the Canadian dollar was at US$0.8928 or
US$=C$1.1201 which compares with Thursday’s North American close of US
$0.8895, or US$=C$1.1242.
The TSX was up 23.54 points Friday morning at 8:45 CDT, to sit at
14,385.37.
