Canadian dollar hits 1-month low as risk appetite wavers

* Canadian dollar falls 0.2% against greenback

* Touches weakest level since July 18 at 1.3003

* Canadian retail sales rise 1.1% in June

* 10-year yield touches four-week high

TORONTO, Aug 19 (Reuters) - The Canadian dollar extended this week's decline against its U.S. counterpart on Friday as oil prices fell and safe-haven demand boosted the greenback, while domestic data showed retail sales rising more than expected in June.

The U.S. dollar index .DXY surged and was on track for its biggest weekly gain since April 2020 as investors worried about a further economic slowdown after Federal Reserve officials reiterated the need for higher interest rates.

The price of oil, one of Canada's major exports, slipped after two days of gains as a strong U.S. dollar and concerns about a global economic slowdown weighed.

U.S. crude CLc1 prices fell 1.3% to $89.36 a barrel, while the Canadian dollar CAD= was trading 0.2% lower at 1.2975 to the greenback, or 77.07 U.S. cents, after touching its weakest level since July 18 at 1.3003.

For the week, the currency was on track to decline 1.6%.

Canadian retail sales rose 1.1% in June from May, beating estimates for a 0.3% gain, on higher sales at gasoline stations, as well as motor vehicle and parts dealers, Statistics Canada data showed. A preliminary estimate was for sales to decline 0.2% in July.

Data earlier this week showed that Canada's annual inflation rate slowed in July but measures of underlying inflation heated up.

Canadian inflation is not likely to return to the central bank's 2% target until 2024 after possibly peaking in June, as less volatile items like wages and rent displace energy as key sources of price pressure, analysts say.

Canadian government bond yields were higher across the curve, tracking the move in U.S. Treasuries. The 10-year CA10YT=RR touched its highest since July 22 at 2.963% before dipping to 2.916%, up 7.5 basis points on the day.
Reporting by Fergal Smith; Editing by Paul Simao

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