By MarketsFarm
WINNIPEG, Dec. 16 (MarketsFarm) – The Canadian dollar was slightly slightly weaker Wednesday morning, backing away from the two-and-a-half year highs hit on Tuesday.
At 8:50 CST Wednesday morning the Canadian dollar was at US$0.7844 or C$1.2749 which compares with Tuesday’s North American close of US$0.7860 or C$1.2722.
Canada’s consumer price index was up by 1.0 per cent on an annual basis in November, after a 0.7 per cent gain the previous month, according to the latest inflation data from Statistics Canada. The cost of shelter, which was up by 1.9 per cent, contributed the most to the increase.
In other Statistics Canada economic data, wholesale sales were up 1.0 per cent in October, hitting C$66.7 billion. That marked the sixth straight increase for the sector.
West Texas Intermediate crude oil was holding steady in early activity, at US$47.57 per barrel.
The TSX was up by 29.05 points at 8:50 CST to trade at 17,535.53 points.
