By MarketsFarm
WINNIPEG, July 16 (MarketsFarm) – The Canadian dollar was holding steady Thursday morning, seeing some consolidation after posting solid gains relative to its United States counterpart on Wednesday.
At 8:41 CDT Thursday morning the Canadian dollar was at US$0.7391 or C$1.3530 which compares with Wednesday’s North American close of US$0.7389 or C$1.3534.
Softer-than-expected consumption data out of China put some pressure on world equity markets on Thursday, with retail sales down 1.8 per cent in June compared to the same time the previous year. However, China’s gross domestic product expanded by 11.5 per cent on the quarter, after losing a revised 10.0 per cent the previous quarter, which beat expectations. The annual rate of inflation was now at 3.2 per cent, following a 6.8 per cent drop in annual inflation the previous quarter.
Read Also
Canadian Financial Close: C$ firm Friday
Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on…
Crude oil was slightly weaker, with West Texas Intermediate down about one per cent at US$40.95 per barrel.
The TSX was down by 81.14 points at 8:41 CDT to trade at 15,982.19 points.
