By MarketsFarm
WINNIPEG, Jan. 21 (MarketsFarm) – The Canadian dollar was weaker Friday morning, backing below the 80 U.S. cent level.
At 8:40 a.m. CST Friday morning the Canadian dollar was at US$0.7987 or US$1=C$1.2520, which compares with Thursday’s close of US$0.8017 or US$1=C$1.2474.
Statistics Canada reported that retail sales in the country increased by 0.7 per cent in November, to C$58.1 billion. Preliminary data for December points to a 2.1 per cent decline during that month.
Canada’s new housing price index was up by 0.2 per cent in December, marking the slowest increase in new home prices since June 2020. Nationally, new home prices were up 11.6 per cent from the same month the previous year.
A softer tone in crude oil put some pressure on the energy-linked currency. West Texas Intermediate was down by 0.72 per cent at US$84.93 per barrel.
The TSX was weaker, down 157.87 points at 8:40 CST, trading at 20,900.31 points.
