Glacier FarmMedia — The Canadian dollar was slightly softer Tuesday morning, as currency markets reacted to the latest inflation data.
At 9:27 a.m. CDT the Canadian dollar was trading at US$0.7294 or US$1=C$1.3710 which compares with Monday’s close of US$0.7303 or US$1=C$1.3693.
Canada’s annual inflation rate bumped up to 1.9 per cent in June from 1.7 per cent the previous month, reported Statistics Canada. Meanwhile, consumer prices in the United States were up 2.7 per cent on the year in June, which compares with 2.4 per cent in May, said the Labor Department.
Crude oil prices were weaker Tuesday morning, with West Texas Intermediate down 0.54 per cent at US$66.44 per barrel.
The TSX backed away from its record highs, losing 122.51 points at 9:27 CDT to trade at 27,076.34.
