By Commodity News Service Canada
WINNIPEG, July 22 (CNS Canada) The Canadian dollar was trading both sides of unchanged relative to its US counterpart Friday morning.
Canada’s annual inflation rate rose in June on higher car and electricity prices, as well as increased costs associated with housing.
The all-items consumer price index rose 1.5 per cent in June, according to Statistics Canada, matching the previous month’s advance. This surpassed expectations for a 1.4 per cent gain, according to some economists.
Canadian retail sales also rose unexpectedly in May for the third advance in four months, supporting the loonie.
The value of retail sales rose 0.2 per cent to a seasonally adjusted C$44.28 billion, according to Statistics Canada. Retail sales were expected to remain unchanged from the previous month, said economists.
At 8:56 CDT Friday, the Canadian dollar was at US$0.7625 or US$=C$1.3115, which compares with Thursday’s North American close of US$0.7642 or US$1=C$1.3086.
The TSX was down 12.61 points, or 0.09 per cent, at 8:56 CDT Friday morning to sit at 14,553.22.
