By MarketsFarm
WINNIPEG, Jan. 19 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, moving above the psychological 80 U.S. cent mark.
At 8:44 a.m. CST Wednesday morning the Canadian dollar was at US$0.8021 or US$1=C$1.2467 which compares with Tuesday’s close of US$0.7981 or US$1=C$1.2529.
Canada’s consumer price index was up by 4.8 per cent on an annual basis in December, according to a report from Statistics Canada.
Wholesale sales in the country were up by 3.5 per cent in November to C$75.6 billion, according to a separate report. That marked the fourth consecutive monthly rise, with sales up six of the seven subsectors.
Gains in crude oil were supportive for the energy-linked currency. West Texas Intermediate was up 1.28 per cent at US$85.92 per barrel.
The TSX was stronger, up 33.57 points at 8:44 CST, trading at 21,308.14 points.
