Glacier FarmMedia | MarketsFarm – The Canadian dollar retreated on Friday morning after the release of economic data from Statistics Canada.
The loonie was at US$0.6960 or US$1=C$1.4369 as of 8:35 a.m. CDT, compared to Thursday’s close at US$0.6970 or US$1=C$1.4347. StatCan reported today that retail sales dropped 0.6 per cent at C$69.4 billion in January, mainly due to declining sales in the auto sector. The agency also estimated a 0.4 per cent decline in retail sales in February.
The United States Dollar Index was up 0.16 of a point at 104.01.
Crude oil was lower due to concerns over output hikes from OPEC+ and tariffs imposed by U.S. President Donald Trump. Brent crude oil lost US$0.23 at US$71.77 per barrel. West Texas Intermediate (WTI) was down US$0.13 at US$67.94/barrel.
The TSX/S&P Composite Index shed 157.09 points at 24,903.15.
Gold dipped US$11.90 per ounce at $3,031.90.
