By Commodity News Service Canada
Winnipeg, December 19 – The Canadian dollar was lower Friday morning as November inflation data came in weaker than expected.
At 8:45 CST Friday morning, the loonie was down 0.0015 of a cent to US$0.8609 or US$1 = C$1.1616. Consumer prices rose two percent in the 12 months to November, following a 2.4 percent increase in October. Lower gasoline prices are being credited as a main reason for the bump.
The Consumer Price Index fell 0.2 percent in November. It rose 0.1 percent in October, on a seasonally adjusted basis.
Retail sales came in at C$42.8 billion.
Blackberry reported its revenue stream slipped to C$793 million from $1.19 billion a year ago. That fell short of analysts’ expectations.
On the commodity markets the January crude contract in New York rose $0.74 to US$54.85 a barrel. March copper gained three cents to US$2.89 a pound while the February gold contract jumped 2.80 to US$1,197.60 an ounce.
At 8:45 CST Friday morning, the TSX was up 133.36 points to 14,346.75.
