WINNIPEG – The Canadian dollar remains steady on Wednesday after the release of economic data from Statistics Canada (StatCan).
As of 8:40 a.m. CST, the loonie was at US$0.7524 or US$1=C$1.3290, unchanged from Tuesday’s close. This morning, StatCan reported that Canada’s annual inflation rate was steady at 6.9 per cent in October. Gasoline prices jumped 9.2 per cent on the month, but there was slower price growth for natural gas and groceries.
The U.S. Dollar Index lost 0.26 of a point at 106.15.
Crude oil fluctuated Wednesday morning as a reduced global demand outlook was weighed against geopolitical events such as a rocket hitting a Polish village near the Ukrainian border and the bombing of an oil tanker off the coast of Oman. Brent crude oil declined US$1.25 per barrel to US$92.61. West Texas Intermediate (WTI) retreated US$1.58 at US$85.34/barrel. Western Canadian Select (WCS) fell US$2.13 to US$56.04/barrel.
The TSX/S&P Composite Index shed 54.63 points to 19,940.15.
Gold increased US$1.40 per ounce to US$1,778.20.
