By Commodity News Service Canada
WINNIPEG, Dec. 13 (CNS Canada) – The Canadian dollar down Thursday morning following losses in oil and gold.
At 8:48 CST Thursday morning the Canadian dollar was at US$0.7478 or C$1.3369, which compares with Wednesday’s North American close of US$0.7493 or C$1.3346.
Concerns are rising that China could target Canadian exports in retaliation over the arrest of Huawei Chief Financial Officer Meng Wanzhou at the request of United States authorities. Most of Canada’s C$21.8 billion in exports to China in 2017 consisted of agricultural and wood products. Canadian retail and financial operations in China may also be targeted. On Dec. 10 Chinese authorities detained former Canadian diplomat Michael Kovrig.
Oil prices were down Thursday morning. West Texas Intermediate crude was at US$50.65 per barrel after closing Wednesday at US$51.15.
Gold was down Thursday morning by US$2.40 cents to US$1,243.70 per ounce.
The TSX/S&P Composite Index was up 61.37 points Thursday morning at 14,844.72.
