The Canadian dollar weakened relative to its United States counterpart on Thursday as losses in crude oil weighed on the energy-linked currency.
- The Canadian dollar settled at US$0.7195 or US$1=C$1.3899, which compares with Wednesday’s close of US$0.7206 or US$1=C$1.3877.
- Canadian Prime Minister Mark Carney is in China this week, with trade a key topic of discussion. Carney’s trip is the first by a Canadian prime minister to China in eight years.
- Canadian manufacturing sales in Canada fell 1.2 per cent in November to C$70.8 billion, reported Statistics Canada. Sales of motor vehicles led the declines, losing 15.9 per cent on the month at C$3.8 billion.
- Canadian wholesale sales were down 1.8 per cent in November at C$84.4 billion. That marked the second-largest monthly decline of the past two years. Excluding the automotive subsector, wholesale sales were up 0.1 per cent.
- Gold was down by US$17.90 at US$4,617.80 per ounce.
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Canadian dollar and business outlook
Glacier FarmMedia — The Canadian dollar was weaker Thursday morning as losses in crude oil weighed on the currency. At…
- Crude oil fell amid lowered expectations of a U.S. attack on Iran, with West Texas Intermediate crude oil down 4.40 per cent at US$59.16 per barrel.
- The TSX Composite Index gained 112.45 points at 33,028.92 points.
