By MarketsFarm
WINNIPEG, Jan. 12 (MarketsFarm) – The Canadian dollar was weaker Thursday morning, retreating from early gains relative to its United States counterpart.
At 9:10 a.m. CST Thursday morning the Canadian dollar was at US$0.7440 or US$1=C$1.3441, which compares with Wednesday’s close of US$0.7449 or US$1=C$1.3425.
Broad weakness in the U.S. dollar internationally accounted for some early strength in the Canadian currency, as the U.S. rate of inflation saw an unexpected dip in December. The country’s consumer price index fell from 7.1 per cent in November to 6.5 per cent, marking the first slowdown in two-and-a-half years, according to the U.S. Bureau of Labor Statistics.
Crude oil was firmer, with West Texas Intermediate up by 1.1 per cent at US$78.24 per barrel.
The TSX was up by 13.63 points at 9:10 CST, trading at 20,038.68 points.
