By MarketsFarm
WINNIPEG, Nov. 21 (MarketsFarm) – The Canadian dollar was higher on Tuesday morning, following Statistics Canada’s monthly report on inflation.
As of 8:35 am CST, the loonie was at US$0.7299 or C$1.3709, compared to Monday’s close of US$0.7285 or US$1=C$1.3726. On the U.S. Dollar Index, the greenback was down 0.207 of a point at 103.110.
StatCan said on Tuesday that the country’s annual rate of inflation dropped from 3.8 per cent in September to 3.1 per cent in October.
Benchmark crude oil prices eased back on Tuesday morning, as supplies from non-OPEC+ countries are expanding in light of cuts by Saudi Arabia and Russia.
Brent crude oil shed 31 cents at US$82.01 per barrel, and West Texas Intermediate gave up 39 cents at US$77.44.
Shortly after Monday’s open the TSX/S&P Composite Index dipped 33.79 points at 20,212.68.
Gold advanced US$21.60 at US$2,001.90 per ounce.
