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Canadian dollar and business outlook

| 1 min read

By Phil Franz-Warkentin

Glacier FarmMedia|MarketsFarm–The Canadian dollar was slightly softer Friday morning.

At 8:50 a.m. CDT the Canadian dollar was trading at US$0.7363 or US$1=C$1.3581, which compares with Thursday’s close of US$0.7373 or US$1=C$1.3563.

Retail sales increased 0.9 per cent in July hitting C$66.4 billion, reported Statistics Canada. Early data from August suggests a 0.5 per cent rise in sales that month.

Canada’s industrial product price index was down by 0.8 per cent in August while the raw materials price index fell by 3.1 per cent, said StatCan.

Crude oil was weaker in early activity, with West Texas Intermediate crude oil down by 0.36 per cent at US$71.69 per barrel.

The TSX was down by 80.40 points at 8:50 CDT to trade at 23,785.87.