FILE PHOTO: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015.
REUTERS/Mark Blinch (CANADA - Tags: BUSINESS)TORONTO (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Friday, giving back some of this week’s advance, as a gloomy projection for domestic COVID-19 cases overshadowed higher oil prices and a bigger-than-expected increase in retail sales.
The Canadian dollar was trading 0.2% lower at 1.3091 to the greenback, or 76.39 U.S. cents, having traded in a range of 1.3039 to 1.3096.
“Dire COVID headlines in Canada overwhelmed good news on September retail sales and stronger commodities prices,” said Michael Goshko, corporate risk manager at Western Union Business Solutions.
Canadian retail sales grew by 1.1% in September on higher sales at general merchandise stores, Statistics Canada said.
Mark Blinch, ”, Michael Goshko, Goshko, Canada’s
REUTERS, U.S, Canadian, Western Union Business Solutions, Statistics, Moody’s Investors Service
Toronto, TORONTO, Canada, Statistics Canada