By Commodity News Service Canada
Winnipeg, July 21 – The Canadian dollar was slightly higher against its US counterpart on Friday morning, buoyed by positive economic data.
Canada recorded a gain in retail sales for the third straight month. The value of retail sales increased by 0.6% to C$48.91 billion in May. Much of the gain was traced to strong auto sales.
The country’s inflation rate slowed down for the third straight month. The rate decelerated in June to 1%, due in large part, to weaker energy prices.
Losses in crude oil were offset by gains in gold and copper.
At 9:10 CDT Friday morning the Canadian dollar was at US$0.7957 or C$1.2568 which compares with Thursday’s North American close of US$0.7946 or C$1.2585.
At 9:10 CDT Friday morning, the TSX was down 94.03 points, or 0.62%, at 15,170.61.
