C$ flat as manufacturing growth offsets trade risk

TORONTO: The Canadian dollar was little changed against its US counterpart on Friday as data showing acceleration in domestic manufacturing growth offset lower oil prices and the prospect of an escalating trade quarrel.

Growth in the Canadian manufacturing sector accelerated in May to its fastest pace in more than seven years as new orders and inventories climbed. The IHS Markit Canada Manufacturing Purchasing Managers' Index rose to a seasonally-adjusted 56.2 last month from 55.5 in April.