C$ weakens to a six-week low as retail sales, oil fall

Toronto

THE Canadian dollar weakened to a six-week low against the greenback on Friday as domestic retail sales data disappointed and oil fell, while expectations grew that the United States could raise interest rates this summer.

Canadian retail sales fell 1 per cent in March, exceeding economists' forecasts for a decrease of 0.6 per cent, as consumers bought fewer cars, while separate data showed that core inflation rose to 2.2 per cent.