By Commodity News Service Canada
WINNIPEG, April 26 (CNS Canada) – The Canadian dollar was sharply weaker Wednesday morning, with soft domestic retail sales data behind some of the weakness.
At 8:37 CDT Wednesday morning the Canadian dollar was at US$0.7352 or C$1.3602 which compares with Tuesday’s North American close of US$0.7372 or C$1.3565.
Canadian retail sales declined 0.6 per cent, to C$47.8 billion, in February, following a 2.3 per cent increase in January, reported Statistics Canada. Market expectations had been for a flat reading on the month.
Mounting uncertainty over increasing trade disputes between the US and Canada also kept the currency under pressure, as investors are still weighing the impact of yesterday’s implementation of US tariffs on Canadian softwood lumber.
Crude oil was slightly weaker Wednesday morning.
The TSX was steady at 8:36 CDT, holding at 15,745.19.
