By MarketsFarm
WINNIPEG, Nov. 29 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning, as domestic inflation data failed to live up to expectations.
At 8:39 a.m. CST Tuesday morning the Canadian dollar was at US$0.7380 or US$1=C$1.3550, which compares with Monday’s close of US$0.7433 or US$1=C$1.3453.
Canada’s gross domestic product was up by 0.7 per cent in the third quarter, marking the fifth straight quarterly rise, according to a report from Statistics Canada. On a monthly basis, real GDP was up by 0.1 per cent in September, which was below expectations for a 0.2 per cent monthly rise. Early data indicates that real GDP held steady in October.
Crude oil was stronger, providing some underlying support for the energy-linked currency. West Texas Intermediate was up by 1.6 per cent at US$78.46 per barrel.
The TSX was up by 18.77 points at 8:39 CST, trading at 20,239.26 points.
