By MarketsFarm
WINNIPEG, May 19 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, as losses in crude oil weighed on the energy-linked currency.
At 8:57 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.8273 or US$1=C$1.2088 which compares with Tuesday’s North American close of US$0.8298 or US$1=C$1.2051.
Canada’s Consumer Price Index was up by 3.4 per cent on an annual basis in April, which compares with a 2.2 per cent gain the previous month, according to a report from Statistics Canada. The inflation data came in above average pre-report estimates and marked the largest year-on-year rise in a decade.
West Texas Intermediate crude oil was down by 3.2 per cent in early activity to trade at US$63.43 per barrel.
The TSX was weaker, down by 216.23 points at 8:57 CDT, trading at 19,290.82 points.
