WINNIPEG, Feb. 17 (MarketsFarm) – The Canadian dollar stepped back on Wednesday morning after news that Canada’s inflation rate rose to one per cent in January.
As of 8:30 a.m. CST, the Canadian dollar was at US$0.7856 or US$1=C$1.2734, compared to Tuesday’s close of US$0.7884 or US$1=C$1.2684.
The brutal cold snap which shut down refineries and oilfields in North America over the past week continues to affect benchmark crude oil prices.
Brent crude oil lost US$0.21 to US$63.35 per barrel. West Texas Intermediate (WTI) fell back below US$60/barrel by US$0.25 at US$59.80. Western Canadian Select (WCS) increased by US$0.54 at US$49.45/barrel.
The TSX/S&P Composite Index gained once again, going up 32.51 to 18,492.72.
Gold dropped by US$11.75 at US$1,782.72 per ounce.
