By Commodity News Service Canada
WINNIPEG, Jan. 20 (CNS Canada) The Canadian dollar was weaker Friday morning, with most attention in the financial markets on the inauguration of new US president Donald Trump.
At 8:49 CST Thursday morning the Canadian dollar was at US$0.7485 or C$1.3360 which compares with Thursday’s North American close of US$0.7511 or C$1.3314.
The lingering effects of the Bank of Canada’s interest rate announcement earlier in the week continued to weigh on the Canadian dollar, as the Bank left the door open for rate cuts in the future.
In domestic data, Canada’s Consumer Price Index (CPI) grew by 1.5 per cent on an annual basis in December, which compares with 1.2 per cent in November, according to Statistics Canada.
Crude oil was higher Friday morning, which provided some underlying support for the energy-linked Canadian dollar.
The TSX was up 131.90 points at 8:49 CST to sit at 15,541.66.
