By MarketsFarm
WINNIPEG, Dec. 19 MarketsFarm) – The Canadian dollar was firmer Monday morning, underpinned by gains in crude oil.
At 8:42 a.m. CST Monday morning the Canadian dollar was at US$0.7330 or US$1=C$1.3643, which compares with Friday’s close of US$0.7306 or US$1=C$1.3687.
Canada’s Industrial Product Price Index was down by 0.4 per cent in November compared to the previous month, but was still up by 9.7 per cent on the year, according to a report from Statistics Canada. The Raw Materials Price Index fell by 0.8 per cent monthly and was up by 8.0 per cent annually.
Crude oil was underpinned by optimism over increasing Chinese demand, as the country announced plans to support its economy. West Texas Intermediate was up by 2.0 per cent at US$75.94 per barrel.
The TSX was up by 17.63 points at 8:42 CST, trading at 19,460.91 points.
