By MarketsFarm
WINNIPEG, July 18 (MarketsFarm) – The Canadian dollar was slightly weaker Tuesday morning, as currency traders reacted to the country’s latest inflation data.
At 8:40 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7563 or US$1=C$1.3222, which compares with Monday’s close of US$0.7583 or US$1=C$1.3187.
Canada’s consumer price index was up by 2.8 per cent annually in June, seeing a slowdown from the 3.4 per cent reading the previous month, according to a report from Statistics Canada. Gasoline prices were down by 21.6 per cent year-over-year, while grocery prices were up by 9.1 per cent.
Canada’s industrial product price index dipped by 0.6 per cent in June compared to the previous month, losing 5.5 per cent annually. The raw materials price index was down by 1.5 per cent monthly and 19.7 per cent lower compared with June 2022.
Crude oil was holding relatively steady, with West Texas Intermediate up by 0.16 per cent at US$74.27 per barrel.
The TSX was stronger, gaining 55.27 points at 8:40 CDT, trading at 20,282.38 points.
