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Canadian dollar and business outlook

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Published: May 21, 2021

By MarketsFarm

WINNIPEG, May 21 (MarketsFarm) – The Canadian dollar was stronger Friday morning, underpinned by strength in outside equity and energy markets.
At 9:03 a.m. CDT Friday morning, the Canadian dollar was at US$0.8301 or US$1=C$1.2047 which compares with Thursday’s North American close of US$0.8285 or US$1=C$1.2070.
Canadian retail sales were up by 3.6 per cent in March, to hit C$57.6 billion, according to a report from Statistics Canada. Average pre-report expectations had been for a more modest 2.3 per cent rise. However, wholesale sales were down by 0.8 per cent in the month, due primarily to lower sales of motor vehicles and accessories.
West Texas Intermediate crude oil was up by 2.5 per cent in early activity to trade at US$63.47 per barrel.
The TSX was stronger, up by 42.54 points at 9:03 CDT, trading at 19,585.49 points.

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