Wednesday April 23, 2008 - 13:16:35 GMT
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CEP News - www.economicnews.ca
Canadian Dollar Down More Than a Cent After Retail Sales Data
08:51 04/23 (CEP News) â€“ The Canadian dollar sold off sharply
following a disappointing retail sales report from Statistics Canada.
The loonie opened the session at 0.9919 and was trading down to 0.9871 ahead of the data.
Retail sales excluding autos were expected to increase 0.4% but instead
declined 0.3% in February. Headline sales declined 0.7% against
expectations of a 0.1% increase.
The Canadian dollar fell to 0.9801 (USD/CAD 1.0203) â€“ nearly
three-quarters of a cent â€“ in the moments following the release. On the
session, the loonie is down 0.116, or 1.2%.
The Canadian dollar also fell on other crosses. Against the yen, the
Canadian dollar is down 1.14 to 101.02. Against the Australian dollar,
the loonie is down 0.180 to 1.0316.
The pound sterling is up 0.0109 to 2.0230 CAD and the euro is up 0.0143 to 1.6264 CAD.
All data taken at 8:46 a.m. EDT.
By Adam Button, firstname.lastname@example.org, edited by Nancy Girgis, email@example.com
(END) Â©CEP Newswires - Â©CEP News Ltd. 2008. All Rights Reserved. www.economicnews.ca
Related recent stories: (08:30 04/23) February Chill Hits Canada's Retail Sector, Sales Fall 0.7% (07:03 04/23) Wednesday's Events: Canadian Retail Sales, DOE Oil, Norges Bank Rate Decision (17:21 04/22) The Day Ahead Canada & U.S.: Canadian February Retail Sales
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