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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Sept. 23 (MarketsFarm) – The Canadian dollar was stronger Thursday morning, boosted by better-than-expected retail sales data.
At 8:43 a.m. CDT Thursday morning, the Canadian dollar was at US$0.7894 or US$1=C$1.2668 which compares with Wednesday’s North American close of US$0.7839 or US$1=C$1.2756.
While Statistics Canada reported that retail sales in the country were down by 0.6 per cent in July, pre-report estimates had been for a much larger 1.2 per cent decline. Preliminary data for August points to a 2.1 per cent increase.
Gains in world equity markets and a firm tone in crude oil were also supportive for the currency.
West Texas Intermediate crude oil was up 0.1 per cent at US$72.33 per barrel.
The TSX was stronger, up 42.73 points at 8:43 CDT, trading at 20,444.22 points.

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