Canadian Financial Close: C$ continues downtrend

   Glacier FarmMedia | MarketsFarm — The Canadian dollar continued to weaken relative to its United States counterpart on Friday, hitting its lowest levels since the height of the Covid-19 pandemic in the spring of 2020.

The Canadian dollar settled at US$0.7103 or US$1=C$1.4079 on Friday, which compares with Thursday’s close of US$0.7129 or US$1=C$1.4027.

Canadian manufacturing sales were down by 0.5 per cent in September compared to the previous month, according to a report from Statistics Canada. Meanwhile, wholesale sales were up by 0.8 per cent.

In the U.S. retail sales topped expectations — rising by 0.4 per cent in October, according to the Census Bureau.

Crude oil was weaker, with West Texas crude oil down 2.55 per cent at US$66.95 per barrel.

The TSX Composite Index was down by 158.99 points to close at 24,890.68 points.