By MarketsFarm
WINNIPEG, April 22 (MarketsFarm) – The Canadian dollar was weaker Friday morning, as declines in crude oil weighed on the energy-linked currency.
At 8:42 a.m. CDT Friday morning the Canadian dollar was at US$0.7883 or US$1=C$1.2686, which compares with Thursday’s close of US$0.7981 or US$1=C$1.2529.
Canadian retail sales were up by 0.1 per cent in February, hitting C$59.9 billion, according to a report from Statistics Canada. Early data for March suggests a 1.4 per cent increase during the month.
The country’s Industrial Product Price Index was up by 4.0 per cent in March and 18.5 per cent on an annual basis. Meanwhile, the Raw Materials Price Index rose by 11.8 per cent on a monthly basis to hit an annual rate of 42.7 per cent.
Crude oil was softer in early activity, with West Texas Intermediate down by 1.9 per cent at US$101.74 per barrel.
The TSX was weaker, down 89.55 points at 8:42 CDT, trading at 21,565.73 points.
