WINNIPEG, July 22 (MarketsFarm) – The Canadian dollar was stronger on Wednesday morning, staying over 74 U.S. cents.
At 9:00 CDT Wednesday morning the Canadian dollar was at US$0.7463 or US$1=C$1.3399, which compares with Tuesday’s North American close of US$0.7437 or US$1=C$1.3446.
Positive economic data was one driver of the Canadian dollar. Statistics Canada reported the annual rate of inflation was 0.7 per cent in June, reversing a two-month trend of negative inflation.
The TSX was up by 11.45 points at 9:00 CDT to trade at 16,174.41 points.
Crude oil prices were weaker on Wednesday following reports of high stockpiles in the United States. West Texas Intermediate (WTI) was down 52 cents at US$41.40 per barrel. Brent Crude was down by 56 cents to trade at US$43.76.
