By Commodity News Service Canada
WINNIPEG, MB, Jan. 26, 2018 (CNS Canada) – The Canadian
dollar dipped Friday as new information from Statistics Canada
showed the country’s annual inflation rate dipped in December.
At 8:36 CST Friday morning the Canadian dollar was at
US$0.8097 or C$1.2329, which compares with Thursday’s North
American close of US$0.8115 or C$1.2323.
The rally in oil paused Friday following hitting fresh
three-year highs Thursday; however weakness in the United States
dollar continued to underpin prices. Brent crude futures fell 20
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Canada’s annual inflation rate dipped as expected in
December, according to a release by Statistics Canada Friday.
The annual inflation rate was 1.9 per cent in December, down
from 2.1 per cent in November. The dip was due to gasoline
prices cooling.
Wall Street opened higher Friday as gains in Intel and
AbbVie followed strong earnings and a slide in the U.S. dollar
helped investors look past weaker-than-expected U.S. economic
growth data. The Dow Jones Industrial Average gained 52.02
points, or 0.2 per cent, to 26,444.81. The S&P 500 added 8.3
points, or 0.29 per cent, to 2,847.55. The Nasdaq Composite rose
33.94 points, or 0.46 per cent, to 7,445.11.
The Toronto TSX/S&P Composite Index fell Friday as
gold prices rose. The TSX/S&P lost 15.55 points, or 0.1 per
cent, to 16,188.46.
