Glacier FarmMedia | MarketsFarm — The Canadian dollar was weaker Wednesday morning, hitting fresh two-year lows relative to its United States counterpart.
The U.S. consumer price index was up by 2.6 per cent on an annual basis in October, according to a report out of the country. The inflation data was in line with trade expectations and was seen as reinforcing expectations for another interest rate cut from the U.S. Federal Reserve in December.
At 9:25 a.m. CDT the Canadian dollar was trading at US$0.7148 or US$1=C$1.3990 which compares with Tuesday’s close of US$0.7172 or US$1=C$1.3944.
Crude oil was weaker, with West Texas Intermediate crude oil down by 1.06 per cent at US$67.40 per barrel.
The TSX was weaker in early activity, losing 20.74 points at 9:25 CDT to trade at 24,902.27.
