By Commodity News Service Canada
WINNIPEG, December 15 – The Canadian dollar dropped to a two-week low against its US counterpart in early activity on Thursday.
The loonie was feeling pressure from losses in the crude oil market, which is bearish.
A move from the US Federal Reserve to raise the country’s interest rates further pressured the Canadian dollar.
Weaker Canadian domestic data added to the downside.
Manufacturing sales declined 0.8 per cent to C$51.0 billion in October, Statistics Canada said in a report on Thursday.
At 9:20 CST Thursday, the Canadian dollar was at US$0.7533 or US$=C$1.3274, which compares with Wednesday’s North American close of US$0.7668 or US$1=C$1.3390.
The TSX was up 29.50 points at 9:20 CST Thursday morning to sit at 15,226.68.
