MID-DAY: StatsCan reports growth in Canadian economy; Trump continues to attack China’s trade practices
The Loonie is getting a boost thanks to some positive economic data from StatsCan.
The federal agency recorded a 2.5 per cent increase of inflation in June, nearing a high not seen since February 2012. Positive results came from retail sales in May as they jumped 2 per cent up to $50 billion, which was a big change from April’s .9 drop.
This is helping give a boost to the Loonie, which is up to 76.19 cents US.
However, on Bay Street, the TSX is down 58 points to 16,484 and across the border the Dow is up slight by 23 points to 25,088.
Donald Trump is causing more market volatility as he takes aim at China with more tariff threats again. And other country officials are watching to see if the US President moves forward with a threat to add a 25 per cent tariff to auto trade under national security concerns.
Oil is sliding still to 67.95 a barrel.