By MarketsFarm
WINNIPEG, Nov. 10 (MarketsFarm) – The Canadian dollar was showing some strength Thursday morning, underpinned by lower-than-expected inflation data out of the United States.
At 8:37 a.m. CST Thursday morning the Canadian dollar was at US$0.7460 or US$1=C$1.3405, which compares with Wednesday’s close of US$0.7418 or US$1=C$1.3480.
The U.S. consumer price index was up by 7.7 per cent on an annual basis in October, failing to meet pre-report expectations for growth of 8.0 per cent and down from the 8.2 per cent reading the previous month. The cooling inflation weighed on the U.S. dollar, which underpinned other world currencies – including the Canadian dollar.
Crude oil was holding near unchanged, with West Texas Intermediate down by 0.3 per cent at US$85.54 per barrel.
The TSX was up by 478.08 points at 8:37 CST, trading at 19,822.33 points.
