By Commodity News Service Canada
WINNIPEG, November 4 – The Canadian dollar moved to an eight-month-low against its US counterpart in early activity on Friday, pressured by weak export numbers and losses in crude oil.
Exports edged up 0.1 per cent to C$43.5 billion in September, as a 0.9 per cent increase in prices was mostly offset by a 0.8 per cent decrease in volume, Statistics Canada said in a report on Friday.
New York Mercantile crude oil futures had lost US$0.68 per barrel in the December contract at 8:45 a.m. Friday, sitting at US$43.98, which was bearish for the commodity-linked loonie.
At 8:45 CDT Friday, the Canadian dollar was at US$0.7447 or US$=C$1.1.3428, which compares with Thursday’s North American close of US$0.7472 or US$1=C$1.3383.
The TSX was down 58.80 points at 8:45 CDT Friday morning to sit at 14,524.62.
