By MarketsFarm
WINNIPEG, July 21 (MarketsFarm) – The Canadian dollar was slightly softer Friday morning, as retail sales data failed to live up to expectations.
At 8:32 a.m. CDT Friday morning the Canadian dollar was at US$0.7573 or US$1=C$1.3205, which compares with Thursday’s close of US$0.7592 or US$1=C$1.3171.
Retail sales in Canada were up by 0.2 per cent in May hitting C$66.0 billion, according to a report from Statistics Canada, with sales up in five of nine subsectors. Pre-report market expectations had been for a 0.5 per cent increase on the month.
Canada’s new housing price index was up by 0.1 per cent in June compared to the previous month, although only four of the 27 census metropolitan areas saw increases. New home prices were down by 0.7 per cent compared to the same month the previous year.
Crude oil was firmer, with West Texas Intermediate up by 0.52 per cent at US$76.04 per barrel.
The TSX was stronger, gaining 42.44 points at 8:32 CDT, trading at 20,484.15 points.
