Canadian Dollar and Business Outlook: Loonie holding firm on sales report

By MarketsFarm

WINNIPEG, Feb. 21 (MarketsFarm) – The Canadian dollar was unchanged Friday morning, following a Statistics Canada report on retail sales.
As of 8:55 CST, the Canadian dollar was at US$0.7545 or C$1.3252.

Statistics Canada said retail sales in December of C$51.6 billion were virtually unchanged from those in November. On the year, retail sales of C$615 billion grew 1.6 per cent in 2019, according to the federal agency.

Crude oil prices were lower Friday morning, due to a spike in the number of reported cases of COVID-19 in China and South Korea. Deeper losses were tempered by production issues caused by the civil war in Libya, and an apparent attack on a Saudi Arabia oil facility by Yemen-based Houthi rebels.

Brent crude oil lost US$1.19 at US$58.12 per barrel and West Texas Intermediate was fell US$1.16 at US$52.72 per barrel. Western Canadian Select slipped 23 cents at US$36.33 per barrel.

The TSX/S&P Composite Index opened flat with a small decrease of 1.85 points at 17,942.21.

Gold leapt US$24.56 at US$1,644.12 per ounce.


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