By MarketsFarm
WINNIPEG, Oct. 16 (MarketsFarm) – The Canadian dollar was steady Wednesday morning following Statistics Canada’s latest report on inflation.
As of 8:41 CDT, the Canadian dollar was at US$0.7567 or C$1.3214. That compares to Tuesday’s North American close of US$0.7569 or C$1.3211.
Statistics Canada reported this morning that the country’s annual inflation rate remained at 1.9 per cent in September, which was 0.2 per cent lower than what analysts predicted. Lower prices at the fuel pump were a major contributor to holding down inflation.
Crude oil prices were steady to lower Wednesday morning, amid economic uncertainty stemming from United States/China trade talks.
Brent crude oil was down nine cents at US$58.65 per barrel and West Texas Intermediate slipped three cents at US$52.78 per barrel. Western Canadian Select lost 40 cents at US$37.14 per barrel.
At the start of trading on Wednesday, the TSX/S&P Composite Index opened higher on the strength of the inflation report. The TSX gained 19.28 points at 16,437.67.
Gold was up US$8.50 at US$1,492.00 per ounce.
