By MarketsFarm
WINNIPEG, Oct. 21 (MarketsFarm) – The Canadian dollar was slightly softer Friday morning, with rising bond yields in the United States and expectations for continued rate hikes from the U.S. Federal Reserve supportive for the U.S. dollar at the expense of the loonie and other international currencies.
At 8:55 a.m. CDT Friday morning the Canadian dollar was at US$0.7270 or US$1=C$1.3755, which compares with Thursday’s close of US$0.7284 or US$1=C$1.3729.
Canadian retail sales were up by 0.7 per cent in August, hitting C$61.8 billion, according to a report from Statistics Canada. Core retail sales, which exclude gasoline stations and motor vehicle retailers, were up by 0.9 per cent, the largest increase in five months. However, preliminary data for September showed retail sales dipping by 0.5 per cent, with wholesale sales down by 0.2 per cent.
Crude oil was showing some modest strength, with West Texas Intermediate crude oil up by 1.1 per cent at 85.50 per barrel.
The TSX was up by 36.33 points at 8:55 CDT, trading at 18,615.62 points.
