By Commodity News Service Canada
Winnipeg, June 20 – The Canadian dollar jumped higher against its US counterpart at midday Friday, on word Canada’s inflation rate rose higher than expected last month.
The 2.3% rise in May was a result of strong energy prices.
Statistics Canada reported that retail sales in Canada rose for the fourth consecutive month, and that gains were found in 10 or 11 retail subsectors.
The August gold contract gained $41.40 cents to US$1,314.10 an ounce, which was bullish. The July copper contract rose two cents to US$3.08 a pound. The July crude oil contract rose 53 cents to US$106.96 a barrel.
At 11:40 CDT Friday, the Canadian dollar was trading at US$0.9295 or US$1.0758, which compares with Thursday’s North American close of US$0.9240, or US$=$1.0823.
At 11:40 CDT Friday, the Toronto Stock Exchange was down 10.21 points to sit at 15,102.01.
