Canadian Dollar Falls as Crude Oil Prices Decline
The Canadian dollar experienced losses on Thursday morning, weighed down by declining crude oil prices and the strengthening US dollar.
At 9:04 a.m. CDT, the CAD was trading at $0.7153 or $1=C$1.3980, marking a slight decline from its previous close of $0.7170 or $1=C$1.3947 on Wednesday.
Canadian Prime Minister Mark Carney addressed the European Parliament on Thursday, outlining proposals for increased partnership between Canada and Europe. Any further ties would require debate and a final vote in the Canadian Parliament, according to Carney.
Canada's Industrial Product Price Index rose by 1.3% in August compared to the previous month, resulting in a 13.5% annual increase, reported Statistics Canada. The Raw Materials Price Index also saw a significant jump of 22.8% annually.