By Commodity News Service Canada
Winnipeg, December 19 – The Canadian dollar was lower against its American counterpart at midday Friday, due to weak inflation data and an increase in the overall consumer price index.
The loonie was at US$0.8604 or US$1 = C$1.1622 at 11:45 CST Friday morning.
Prices for gasoline at the pump have also pushed lower across the country, with the overall drop averaging 5.9% year-over-year nation-wide.
The Bank of Canada’s key lending rate remains at 1% and is expected to stick until the second half of 2015, according to a report.
On the commodity markets, the February gold contract rose US$2.90 to $1,197.70 an ounce. The January crude oil contract jumped US$1.69 to US$55.80 a barrel. The March copper contract gained four cents to US$2.89 per pound.
At 11:45 CST Friday morning, the Toronto Stock Exchange was up 92.04 points to 14,438.79.
