By Commodity News Service Canada
WINNIPEG, Feb. 28 (CNS Canada) The Canadian dollar was weaker Wednesday morning, pressured by broad-based strength in the U.S. dollar index.
At 8:55 CST Wednesday morning the Canadian dollar was at US$0.7818 or C$1.2791, which compares with Tuesday’s North American close of US$0.7849 or C$1.2740.
Improving economic sentiment out of the U.S. accounted for some of the strength in the U.S. dollar at the expense of other currencies, including the loonie.
In domestic data, Canada’s Industrial Product Price Index was up by 0.3 per cent in January, after losing 0.1 per cent the previous month, according to a report from Statistics Canada. The Raw Materials Price Index was up by 3.3 per cent during the month, which compares with a decline of 0.9 per cent in December. Advances in the energy sector were linked to the gains in both indexes.
The TSX was slightly weaker at 8:55 CST, down 3.93 points at 15,667.22.
