Skip to main content

The Globe and Mail

Loonie slides amid strong retail sales report

File photo of Canadian dollar coins.


The Canadian dollar was slightly lower late morning Wednesday amid a better than expected showing in retail sales during May.

The loonie was down 0.04 of a cent to 93.1 cents US.

Statistics Canada reported that retail sales rose 0.7 per cent during May, which was higher than the 0.6 per cent hike that economists had expected.

Story continues below advertisement

However, excluding autos, retail sales rose only 0.1 per cent, short of the 0.3 per cent gain that was forecast.

On the commodity markets, September crude in New York rose 74 cents to US$103.13 a barrel.

August gold gained 40 cents to US$1,306.70 an ounce, while September copper was unchanged at US$3.21 a pound.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨