Canadian dollar firms as hopes of an end to U.S.-China trade war boost stocks, oil [Toronto Globe and Mail (Ontario, Canada)]
Toronto Dominion Bank (The) (TD)
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Source: Toronto Globe and Mail
Canadian dollar firms as hopes of an end to U.S.-China trade war boost stocks, oil The Canadian dollar edged higher against its U.S. counterpart on Friday as hopes of a possible end to the U.S.-China trade war boosted stocks and oil prices, while domestic data showed that inflation rose more than expected in December. Canada’s annual inflation rate rose to 2. per cent from 1.7 per cent in November as rising air transportation and telephone service costs offset lower energy prices, Statistics Canada said. The median prediction of analysts was for annual inflation of 1.7 per cent. But economists said the impact on the index of a 22 per cent jump in airfares will reverse over the coming months and that the Bank of Canada, which has hiked interest rates five times since July 217, will pay more attention to its three measures of core inflation. Those measures were stable and held below the central bank’s target of 2 per cent. Story continues below advertisement “They are going to look thro
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