Forex

Lonnie slips after disappointing retail sales data

2020-09-18 18:27:17 GMT (Economies.com)

The Canadian dollar slipped against most majors on Friday, after the release of weak economic data, and pressures on the oil market.

 

Data showed today that the Canada's retail sales index rose 0.6% in August, missing forecasts of 0.8%.

 

The core retail sales reading (excluding food and energy prices) fell 0.4%, also missing analysts' forecasts of a rise by 0.5%.

 

To the oil market, WTI October futures at Nymex rose 0.1% to $41 a barrel as of 18:00 GMT, after hitting a high of $41.4 and a low of $40.3.

 

Brent November futures fell 0.5% to $43.07 a barrel, with a high of $43.8 and a low of $42.5.    

 

CAD/USD fell 0.15% to 0.7589 as of 18:16 GMT, after the pair hit a high of 0.7613 and a low of 0.7575.

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