By Commodity News Service Canada
Winnipeg, MB, July 19, 2013 (CNS Canada) – The Canadian dollar
opened weaker than its US counterpart on Friday, undermined by Canada’s
June consumer price index which came in lower than the Bank of Canada’s
two percent inflation target, market watchers said.
Canada’s core inflation rose by 1.3 percent on a year-over-year
basis in June. That is 0.7 percent lower than the BoC’s target. The
headline index rose 1.2 percent, which was originally forecast by the
BoC.
Gains in commodities, including gold, copper and crude oil,
limited the loonie’s losses.
At 8:35 CDT Friday, the Canadian dollar was at US$0.9630 or
US$=C$1.0384 which compares with Thursday’s North American close of
US$0.9638, or US$=C$1.0376.
The TSX was up 8.32 points Friday morning at 8:35 CDT, to sit at
12,637.17.
