By Commodity News Service Canada
Winnipeg, November 20 – The Canadian dollar was higher against its US counterpart Thursday morning, powered by wholesale sales data from the month of September.
The numbers showed sales had risen 1.8 percent from August.
Meantime, worries about Europe persist after financial information group Markit revealed its purchasing managers’ index for the region fell to a 16-month low of 51.4 points. Analysts say the numbers suggest a recession isn’t far away.
On the commodity markets, December bullion dipped $3.00 to US$1,190.90 an ounce while copper prices fell three cents to US$3.04 a pound. The December crude oil contract rose US$0.09 to US$74.67 a barrel.
At 8:50 CST Thursday, the Canadian dollar was at US$0.8842 or US$=C$1.1309 which compares with Wednesday’s North American close of US $0.8810, or US$=C$1.1351.
The TSX was down 3.93 points Thursday morning at 8:50 CST, to sit at 14,976.22.
