The U.S. dollar was trading moderately higher against its Canadian counterpart on Friday, despite the release of disappointing U.S. data dampened optimism over the economy and concerns over fresh U.S. political turmoil.
The U.S. Commerce Department said retail sales rose 0.4% in April, below expectations for a 0.6% gain.
Core retail sales, which exclude automobiles, increased by 0.3% last month, compared to expectations for a 0.5% rise.
A separate report showed that the U.S. consumer price index gained 0.2% in April, in line with expectations and compared to a 0.3% decline in the prior month.
Year-over-year, consumer prices increased 2.2% last month, below forecasts for a 2.3% rise.
Core CPI, which excludes food and energy, ticked up 0.1% in April, less than the expected 0.2% gain.
Meanwhile, markets were still jittery since U.S. President Donald Trump’s unexpected decision to fire FBI Director James Comey.
Comey had been leading his agency’s investigation into alleged Russian meddling in the 2016 U.S. presidential campaign and possible collusion with Trump’s campaign.
Investors were concerned the latest events in Washington could hamper the U.S. administration’s ability to implement promised tax reform and stimulus measures.
In the euro zone, preliminary data earlier showed that German gross domestic product rose 0.6% in the first quarter, in line with market expectations and up from a growth rate of 0.4% in the three months to December.