Canadian Financial Close: C$ weakens Friday

Glacier FarmMedia | MarketsFarm — The Canadian dollar fell to fresh multi-year lows relative to its United States counterpart to end the week. Uncertainty over a looming trade war with the U.S. accounted for some of the weakness.

The Canadian dollar settled at US$0.7027 or US$1=C$1.4231 on Friday, which compares with Thursday’s close of US$0.7048 or US$1=C$1.4188.

Canadian manufacturing sales rose 2.1 per cent in October to C$70.8 billion, reported Statistics Canada. Petroleum and coal products led the way, with a 15.9 per cent increase in sales. Meanwhile, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were up 1.0 per cent to C$83.7 billion.

West Texas crude oil was up 1.51 per cent at US$71.08 per barrel.

The TSX Composite Index lost 136.41 points to close at 25,274.30 points.