The U.S. dollar was almost unchanged against its Canadian counterpart on Friday, after mixed U.S. data and amid ongoing uncertainty over the Trump administration’s future policy moves, as a decline in oil prices limited the Canadian dollar’s gains.
The U.S. Census Bureau said retail sales rose 0.6% in December, disappointing expectations for a 0.7% gain. November’s 0.1% uptick was revised to an increase of 0.2%.
Core retail sales, which exclude automobiles, gained 0.2% last month, compared to expectations for a 0.5% climb.
A separate report showed that the U.S. producer price index edged up 0.3% in December, in line with expectations and after a 0.4% increase the previous month.
Year-on-year, producer prices increased 1.6%, in line with forecasts.
But the greenback remained under pressure since U.S. President-elect Donald Trump failed to offer details on his promises to boost fiscal spending and cut taxes at a highly-anticipated news conference on Wednesday.
In addition, St. Louis Federal Reserve bank president James Bullard said on Thursday that the election of Donald Trump has not yet switched the U.S. economy to a new “regime” that requires a quick rise in interest rates, which can remain “fairly low” at least through 2017.
Meanwhile, the commodity-related Canadian dollar was weighed by declining oil prices on Friday, amid new doubts over the extent of the production cuts promised by major crude producers.