Glacier FarmMedia – The Canadian dollar ended the week by dipping below 71 United States cents for the first time since Nov. 6.
The loonie dropped to US$0.7092 or US$1=C$1.4100 on Friday, compared to US$0.7102 or US$1=C$1.4080 on Thursday. Statistics Canada reported today that retail sales in September decreased 0.7 per cent at C$69.8 billion, largely due to declines in sales for motor vehicle and parts dealers. However, retail sales were up 0.2 per cent in the third quarter. StatCan also estimated sales to be “relatively unchanged” in October.
The U.S. Dollar Index was steady at 100.26 points.
Crude oil prices were down after Ukrainian President Volodymyr Zelenskyy indicated he will work with the U.S. and Russia in peace negotiations. West Texas Intermediate lost US$1.04 per barrel at US$57.96. Brent crude oil dropped US$0.91/barrel at US$62.47.
The TSX/S&P Composite Index gained 254.10 points to close at 30,160.65.
Gold declined US$3.70 per ounce at US$4,056.30.
