Canadian dollar hits a six-week low as oil slumps on tariff threat [Toronto Globe and Mail (Ontario, Canada)]
Western Union Company (The) (WU)
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Source: Toronto Globe and Mail
Canadian dollar hits a six-week low as oil slumps on tariff threat The Canadian dollar weakened to a six-week low against its U.S. counterpart on Thursday as oil prices slumped, pressured by the prospect of additional U.S. tariffs on Chinese goods. In a series of tweets, U.S. President Donald Trump said he would slap 1 per cent tariffs on $3-billion of Chinese imports starting Sept. 1. Trump’s comments had a “knock-on effect on commodities, particularly oil,” said Michael Goshko, corporate risk manager at Western Union business solutions. “The Canadian dollar is a particularly oil-sensitive currency.” Story continues below advertisement The price of oil, one of Canada’s major exports, fell to the lowest level in about six weeks. U.S. crude oil futures settled 7.9 per cent lower at $53.95 a barrel. At 4:39 p.m. (239 GMT), the Canadian dollar was trading .2 per cent lower at 1.3213 to the greenback, or 75.68 U.S. cents. The currency, which fell .8 per cent against the U.S. dollar in Jul
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WU
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- 10/23/24 - Miss
WU
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- 11/14/24 - Form SC
- 11/12/24 - Form SC
- 10/23/24 - Form 10-Q
- WU's page on the SEC website