By Commodity News Service Canada
WINNIPEG, Nov. 17 (CNS Canada) The Canadian dollar was slightly weaker Friday morning, as the currency reacted to the latest inflation data.
At 8:55 CST Friday morning the Canadian dollar was at US$0.7811 or C$1.2802 which compares with Thursday’s North American close of US$0.7846 or C$1.2745.
Canada’s annual rate of inflation came in at 1.4 per cent in October, which was down from 1.6 per cent the previous month, according to Statistics Canada data. The data was generally in line with expectations, and was seen confirming ideas that the Bank of Canada will not be raising interest rates in the near future.
Uncertainty over ongoing NAFTA negotiations also kept some caution in the market, as representatives from the U.S., Canada, and Mexico meet in Mexico this week.
The TSX was stronger at 8:55 CST, up 34.38 points at 15,969.75.
