Glacier FarmMedia — The Canadian dollar was weaker Thursday morning as losses in crude oil weighed on the currency.
- At 9:17 a.m. CST the Canadian dollar was trading at US$0.7185 or US$1=C$1.3918 which compares with Wednesday’s close of US$0.7206 or US$1=C$1.3877.
- 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.
- Canadian Prime Minister Mark Carney is in China this week, with trade expected to be a key topic of discussion. Carney’s trip is the first by a Canadian prime minister to China in eight years.
- Gold remained near record highs, rising US$25.60 in early activity to trade at US$4,624.70 per ounce.
- West Texas Intermediate crude oil was down 4.57 per cent at US$59.05 per barrel, as an imminent attack on Iran by the United States appeared less likely given the latest comments from U.S. President Donald Trump.
- The TSX was up 85.24 points at 9:17 CST to trade at 33,001.71.
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