By Commodity News Service Canada
WINNIPEG, Feb. 22 (CNS Canada) – The Canadian dollar was firm Friday morning as gains in crude oil provided some support.
Improving trade sentiment between the United States and China accounted for some of the buying interest in oil that also underpinned the energy-linked Canadian currency.
At 9:38 CST Friday morning the Canadian dollar was at US$0.7578 or C$1.3196 which compares with Thursday’s North American close of US$0.7578 or C$1.3196.
In domestic data, Canadian retail sales were down by 0.1 per cent in December, hitting C$50.4 billion, according to a report from Statistics Canada. Lower gasoline sales were the major factor in the decline, as retail sales were up 0.4 per cent on the month when gasoline stations were excluded.
In a separate report, Statistics Canada reported that investment in building construction increased by 0.2 per cent in December, hitting C$13.7 billion.
The TSX was stronger Friday morning, up 39.04 points at 9:39 CST to sit at 16,039.90.
