A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto in this January 23, 2015, file photo. The Canadian dollar pared earlier session losses against its U.S. counterpart on Tuesday, strengthening after data showed January growth was better than feared. REUTERS/Mark Blinch/FilesMARK BLINCH/Reuters
The Canadian dollar closed at 75.94 cents (U.S.), down 0.51 cents (U.S.) from Thursday's close of 76.45 cents (U.S.)
The loonie started the day positive after Statistics Canada released retail sales figures for June and the consumer price index (CPI) for July. But a lower price for oil continued to be a bigger drag on the Canadian dollar.
West Texas Intermediate (WTI) crude closed down down 0.87 cents (U.S.) at $40.45 (U.S.) per barrel.
Canadian retail sales rose by 0.6 per cent in June, double of what economists were expecting.
As well, CPI increased by 0.1 per cent in July, missing a consensus estimate for 0.2 per cent growth. Core consumer-price inflation, a reading that strips out volatile food and energy prices, was flat.
Next week is quiet for economic news in Canada.
In the U.S., currency traders get new home sales data for July 2015. As well central bankers, economists and market participants will meet in Wyoming, for the Jackson Hole symposium. This annual meeting traditionally set the economic agenda for the remainder of the year. It should be noted that Federal Reserve Chairwoman Janet Yellen will not be present.
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