By MarketsFarm
WINNIPEG, June 14 (MarketsFarm) – The Canadian dollar was weaker Friday morning, as investors reacted to the latest retail sales data out of the United States.
At 8:53 CDT Friday morning the Canadian dollar was at US$0.7475 or C$1.3378 which compares with Thursday’s North American close of US$0.7505 or C$1.3324.
Retail sales were up by 0.5 per cent in the U.S. in May, according to a report from the Commerce Department. The April data was also revised to show a 0.3 per cent increase, after initial reports had shown a decline. The sales beat expectations, and helped ease concerns over a slowdown in the U.S. economy.
Crude oil was softer in early activity amid concerns over world trade and declining demand.
The TSX was weaker Friday morning, down 32.90 points at 8:53 CDT to sit at 16,206.36.
