By MarketsFarm
WINNIPEG, Feb. 12 (MarketsFarm) – The Canadian dollar was weaker Friday morning, seeing a correction after hitting its highest levels in three weeks relative to its United States counterpart on Thursday.
At 8:40 CST Friday morning the Canadian dollar was at US$0.7839 or US$1=C$1.2757 which compares with Thursday’s North American close of US$0.7883 or US$1=C$1.2686.
Canadian wholesale sales were down by 1.3 per cent in December, coming in at C$66.5 billion according to a report from Statistics Canada. That marked the first decline after seven consecutive increases, with losses in the motor vehicle sector a feature.
In a separate report, flash estimates for January call for a 1.9 per cent increase in Canada’s Industrial Product Price Index. The official data will be released at the end of the month.
Crude oil was softer in early activity. West Texas Intermediate crude oil was down by 0.3 per cent, at US$58.07 per barrel.
The TSX was down by 50.01 points at 8:40 CST to trade at 18,342.98 points.
