After several weeks of declines, the Canadian dollar is gradually rebounding while growth in China is trending in the opposite direction, reports The Globe and Mail.
Yesterday, the loonie climbed a bit higher, rising 0.26 of a cent to 90.22 cents U.S. amid a stronger than expected read on U.S. retail data and continued issues over Chinese growth.
In February, American retail sales U.S. increased by 0.3 per cent after experiencing a 0.6 per cent drop in January. The February result outperformed the 0.2 per cent climb projected by economists.
However, worries of growth in China delivered a blow to currency and commodity prices this week. Government-released figures depicting industrial production in China rose by 8.6 per cent in the first two months of this year, an amount that was much lower than experts' expectations. Retail sales growth also fell short of estimates.
The data followed a report from last weekend which showed that exports in the second-biggest economy in the world plummeted 18 per cent in February.
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