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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Jan. 24 (MarketsFarm) – The Canadian dollar was holding relatively steady Friday morning, seeing some consolidation after weakening in recent days.
At 8:46 CST Friday morning the Canadian dollar was at US$0.7614 or C$1.3134 which compares with Thursday’s North American close of US$0.7609 or C$1.3143.
Canadian retail sales rose by 0.9 per cent in November to hit C$51.5 billion, according to a report from Statistics Canada. The increase largely offset the 1.1 per cent decline the previous month, with six of 11 subsectors reporting higher sales.
Investors are keeping a close eye on the coronavirus outbreak in China and the possible impact on the global economy.
The TSX was up by 18.90 points at 8:46 CST to sit at 17,640.68.
Crude oil was slightly weaker in early activity.

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