Canadian Financial Close: C$ rises amid easing tariff concerns

Glacier FarmMedia | MarketsFarm — The Canadian dollar was stronger on Friday, finding support as tariff threats from United States President Donald Trump continue to be ‘more bark than bite.’

The Canadian dollar settled at US$0.7059 or US$1=C$1.4166, which compares with Thursday’s close of US$0.7021 or US$1=C$1.4242.

Canadian manufacturing sales were up 0.3 per cent in December compared to the previous month, at C$71.4 billion, with gains in 12 of 21 subsectors, reported Statistics Canada.

Meanwhile, wholesale trade in Canada dipped by 0.2 per cent in December to C$83.6 billion. The largest decrease was in the machinery, equipment and supplies subsector.

Crude oil was softer, with West Texas crude oil down by 0.86 per cent at US$70.68 per barrel.

The TSX Composite Index lost 215.28 points to close at 25,483.23 points.