By MarketsFarm
WINNIPEG, May 19 (MarketsFarm) – The Canadian dollar was slightly firmer Friday morning, with gains in crude oil providing some support.
At 8:42 a.m. CDT Friday morning the Canadian dollar was at US$0.7413 or US$1=C$1.3490, which compares with Thursday’s close of US$0.7407 or US$1=C$1.3500.
Canadian retail sales were down by 1.4 per cent in March compared to the previous month, hitting C$65.3 billion, according to a report from Statistics Canada. Core sales, which exclude fuel and motor vehicle sale, were up by 0.3 per cent monthly.
Expectations that government officials in the United States would be able to reach a deal on raising their debt ceiling underpinned crude oil while also weighing on the U.S. dollar internationally. West Texas Intermediate was up by 0.75 per cent at US$72.40 per barrel.
The TSX was stronger, gaining 81.50 points at 8:42 CDT, trading at 20,378.59 points.
