Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, July 14 – The Canadian dollar was higher against its US counterpart on Friday.

The market was stronger with rising crude oil futures, which are bullish for the commodity-linked loonie.

US economic data was somewhat disappointing, with steady consumer prices and lower retail sales adding some pressure to the greenback.

At 9:25 CDT Friday, the Canadian dollar was at US$0.7883 or US$=C$1.2685, which compares with Thursday’s North American close of US$0.7847 or US$1=C$1.2743.

In Canadian domestic data, Canadian refineries received 7.6 million cubic metres of crude oil in April, down 1.1 per cent from the same month in 2016, Statistics Canada said in a report on Friday.

The TSX was up 32.42 points at 9:25 CDT Friday morning to sit at 15,167.42.