By Commodity News Service Canada
WINNIPEG, Oct. 31 (CNS Canada) The Canadian dollar was weaker Tuesday morning, as soft domestic economic data weighed on the currency.
At 9:27 CDT Tuesday morning the Canadian dollar was at US$0.7754 or C$1.2897 which compares with Monday’s North American close of US$0.7790 or C$1.2837.
Canada’s gross domestic product declined by 0.1 per cent in August after holding steady the previous month, reported Statistics Canada. Expectations had been for a slight increase on the month, and the somewhat surprising decline was seen as further reducing the chances of a Bank of Canada interest rate hike anytime soon.
StatsCan also reported that the Industrial Product Price Index was down by 0.3 per cent in September, while the Raw Materials Price Index was down 0.1 per cent.
The TSX was stronger at 9:27 CDT, up 28.18 points at 16,030.9.
