By Commodity News Service Canada
WINNIPEG, Dec. 21 (CNS Canada) The Canadian dollar was weaker Friday morning, as losses in crude oil continued to weigh on the energy linked currency.
At 8:50 CST Friday morning the Canadian dollar was at US$0.7386 or C$1.3539 which compares with Thursday’s North American close of US$0.7410 or C$1.3495.
Canada’s gross domestic product (GDP) increased by 0.3 per cent in October, after losing 0.1 per cent the previous month, according to a report from Statistics Canada. Average market expectations had been for a more modest 0.2 per cent increase.
Retail sales in Canada were also up by 0.3 per cent in October, hitting C$51.0 billion, according to a separate Statistics Canada report. The motor vehicle and gasoline subsectors accounted for most of the increase.
TSX was holding onto small gains in early activity, as it showed some stability after Thursday’s losses. The index was up 9.29 points at 8:50 CST, to sit at 14,151.06.
