Glacier FarmMedia — The Canadian dollar was slightly firmer on Friday, as world financial markets continued to react to the shifting news out of the Middle East.
- The Canadian dollar settled at US$0.7290 or US$1=C$1.3718, which compares with Thursday’s close of US$0.7284 or US$1=C$1.3728.
- Retail sales in Canada were up by 1.1 per cent in January from the previous month at C$70.7 billion, reported Statistics Canada. Sales were up in six of the nine subsectors, with the largest increase in motor vehicles and parts dealers — up two per cent. Core retail sales were up by 0.9 per cent after dipping 0.4 per cent in December.
- Canada’s Industrial Product Price Index increased 0.4 per cent in February on a monthly basis, posting an annual gain of 5.4 per cent, reported StatCan. The Retail Materials Price Index was up by 0.6 per cent on the month, and 8.6 per cent higher on the year.
- Crude oil was underpinned by supply disruptions due to the war in Iran, with Iraq declaring force majeure on all foreign operated oilfields and navigation through the Strait of Hormuz still severely limited. West Texas Intermediate was up by 2.04 per cent at US$97.50 per barrel.
- The TSX Composite Index lost 537.57 points at 31,317.41 points.
Read Also
Canadian dollar and business outlook
Glacier FarmMedia — The Canadian dollar was slightly firmer Friday morning. At 8:50 a.m. CDT the Canadian dollar was trading…
