By Commodity News Service Canada
Winnipeg, July 18 – The Canadian dollar was slightly higher against its US counterpart at midday Friday, as new data showed inflationary pressures were higher than expected.
Statistics Canada said the Consumer Price Index rose by 0.1 percent during June despite suggestions it was due for a slight dip.
Markets are still recovering from news a Malaysian airline carrier crashed yesterday with 298 people killed. Despite this the TSX was holding in positive territory.
The August gold contract backed off after running up $17 yesterday with the August contract down $8.90 to US$ 1,308 an ounce. September copper fell three cents to US$3.18 a pound. The August crude oil contract fell US$0.04 cents to US$132.23 a barrel.
At 11:40 CDT Friday, the Canadian dollar was trading at US$0.9317 or US$1.0733, which compares with Thursday’s North American close of US$0.9295, or US$=$1.0758.
At 11:40 CDT Friday, the Toronto Stock Exchange was up 63.50 points to sit at 15,267.98.
