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Canadian Dollar and Business Outlook: Loonie steady, inflation down

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Glacier FarmMedia | MarketsFarm – The Canadian dollar was unchanged on Tuesday morning.

The loonie was at US$0.7204 or US$1=C$1.3881 as of 8:28 a.m. CDT, the same as Monday’s close.

Statistics Canada reported today the annual inflation rate cooled down to 2.3 per cent in March, down from 2.6 per cent in February, due to lower prices for gasoline and travel tours. Economists had expected the inflation rate to be steady.

The United States Dollar Index was up 0.20 of a point at 99.84.

Crude oil showed small declines. West Texas Intermediate (WTI) was down US$0.09 at US$61.44 per barrel. Brent crude oil dipped US$0.12 at US$64.76/barrel.

The TSX/S&P Composite Index gained 66.51 points at 23,933.04.

Gold was up US$9.60 per ounce at $3,235.90.