Americas

Markets - FXMM - Americas

C$ dips as oil pullback offsets manufacturing gain TORONTO: The Canadian dollar edged lower against its US counterpart on Wednesday as oil returned some of the advances made in one of the year's biggest rallies a day earlier, offsetting stronger-than-expected gains in domestic manufacturing sales.The 0.3 percent increase for Canadian manufacturing sales in September topped economists' expectations for a gain of 0.1 percent, though the rise was driven largely by the transportation equipment sector and a rise in overall prices.US crude prices were down 0.9 percent at $45.40 a barrel after weekly US crude stocks rose more than expected and as a strong US dollar weighed on commodities.Oil is one of Canada's major exports.At 9:08 a.m. EDT (1408 GMT), the Canadian dollar was trading at C$1.3462 to the greenback, or 74.28 US cents, slightly weaker than Tuesday's close of $1.3447, or 74.37 US cents.The currency touched its strongest level since Thursday at C$1.3424, while its weakest level of ...
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