Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, April 22 The Canadian dollar was stronger Friday morning, boosted by gains in crude oil and better-than-expected economic data.

At 9:01 CDT Friday morning the Canadian dollar was at US$0.7905 or C$1.2650 which compares with Thursday’s North American close of US$0.7857 or C$1.2727.

Canadian retail sales were up by 0.4% in February, hitting C$44.2 billion, according to Statistics Canada data. Economists were expecting to see a slight decrease on the month. On a provincial basis, sales were only down in Saskatchewan and Alberta.

The TSX was stronger, up 25.08 points at 9:01 CDT to sit at 13,906.28.