Canadian Dollar Falls as Crude Oil Prices Decline

The Canadian dollar was down on Thursday morning due to losses in crude oil and strength in the US dollar. At 9:04 a.m. CDT, the Canadian dollar traded at US$0.7153 or US$1=C$1.3980, compared to Wednesday's close of US$0.7170 or US$1=C$1.3947.

Canadian Prime Minister Mark Carney addressed the European Parliament on Thursday, highlighting proposals for increased partnership with Europe. He noted that any deepening of ties would be subject to debate and a final vote in the Canadian Parliament.

The Industrial Product Price Index rose 1.3 per cent in August compared to the previous month, marking a 13.5 per cent annual rise. The Raw Materials Price Index was up by 3.1 per cent on the month and 22.8 per cent annually.