Canadian Financial Close: C$ weakens in choppy trade

Glacier FarmMedia | MarketsFarm — The Canadian dollar was slightly softer on Tuesday, as financial markets continued to try and make sense of shifting tariff-talk from United States President Donald Trump.

The Canadian dollar settled at US$0.6961 or US$1=C$1.4366 on Tuesday, which compares with Monday’s close of US$0.6978 or US$1=C$1.4330.

While no tariffs on Canadian imports were imposed during Trump’s first day in office, he also told reporters that he was considering implementing 25 per cent tariffs as soon as Feb. 1.

Canada’s consumer price index rose 1.8 per cent on an annual basis in December — down slightly from the 1.9 per cent increase the previous month, reported Statistics Canada.

West Texas crude oil was down 2.30 per cent at US$76.09 per barrel.

The TSX Composite Index gained 110.05 points to close at 25,281.63 points.