Canadian Financial Close: C$ hits two-year low

Glacier FarmMedia | MarketsFarm — The Canadian dollar was softer on Tuesday, touching its lowest level in two years relative to its United States counterpart as currency traders continue to consider what the next presidency of Donald Trump will mean for the U.S. economy and global trade.

The Canadian dollar settled at US$0.7172 or US$1=C$1.3944 on Tuesday, which compares with Friday’s close of US$0.7188 or US$1=C$1.3913. There was no official close on Monday due to Remembrance Day.

Canadian municipalities issued C$13.0 billion worth of building permits in September, which was up by 11.5 per cent from the previous month and the second-highest level since the start of the new series in January 2017, reported Statistics Canada.

Crude oil was little changed, with West Texas crude oil down by 0.04 per cent at US$68.03 per barrel.

The TSX Composite Index was up by 133.73 points to close at 24,923.01 points.