By Commodity News Service Canada
Winnipeg, June 18 – The Canadian dollar was higher against its US counterpart at midday Thursday, as soft domestic inflation data in the US pressured the American greenback.
The loonie was at US$0.8123 or US$1 = C$1.2310 at 11:40 CDT Thursday morning. Investors were relatively disappointed by t\he US Federal Reserve’s policy statement yesterday which gave little clue as to when a hike to the interest rate is coming.
Oil prices rose a third straight day Thursday, but were slightly off the highs seen the day before.
Gold also enjoyed a 1% bump from the US Reserve’s reluctance to say when interest rates will rise, according to a report.
On the commodity markets the July crude contract in New York increased US$0.22 to US$60.14 a barrel. The August gold rose jumped US$23.00 to US$1,199.40 an ounce.
At 11:50 CDT Thursday morning, the Toronto Stock Exchange was up 9 points to 14,744.55.
