Canadian dollar hits one-week low as data shows lower exports GlobeInvestor
This translation has been automatically generated and has not been verified for accuracy.The Canadian dollar weakened to a one-week low against its U.S. counterpart on Tuesday, as oil prices fell on reduced worries about Middle East tensions and domestic data showed a decrease in both exports and imports.
Oil prices surrendered some gains made over the previous days as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander. U.S. crude oil futures were down 0.9% at US$62.71 a barrel.At 9:17 a.m. , the Canadian dollar was trading 0.3% lower at 1.3000 to the greenback, or 76.92 U.S. cents. The currency touched 1.
Canada’s jobs data for December is due on Friday, which could help guide expectations for the Bank of Canada interest rate outlook.
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