Canadian dollar and business outlook

Glacier FarmMedia — The Canadian dollar was slightly firmer Friday morning.

• At 8:50 a.m. CDT the Canadian dollar was trading at US$0.7295 or US$1=C$1.3708 which compares with Thursday’s close of US$0.7284 or US$1=C$1.3728.
• Retail sales in Canada were up by 1.1 per cent in January from the previous month at C$70.7 billion, reported Statistics Canada. Sales were up in six of the nine subsectors, with the largest increase in motor vehicles and parts dealers — up two per cent. Core retail sales were up by 0.9 per cent after dipping 0.4 per cent in December.
• Canada’s Industrial Product Price Index increased 0.4 per cent in February on a monthly basis, posting an annual gain of 5.4 per cent, reported StatCan. The Retail Materials Price Index was up by 0.6 per cent on the month, and 8.6 per cent higher on the year.
• Crude oil was relatively steady, with West Texas Intermediate down 0.13 per cent at US$95.43 per barrel.
• The TSX was down 105.36 points at 8:50 CDT to trade at 31,749.62.

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