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Currencies - Canadian Dollar Weakens with Falling Oil Prices

Currencies - Canadian Dollar Weakens with Falling Oil Prices

The Canadian dollar fell today versus the euro to the lowest level more than a week and weakened against the US dollar after the prices for crude oil declined and stock dropped.

October futures for oil delivery slipped as much as 1.6 percent to $74.81 per barrel. Oil is the main Canada’s export. The oil sands in Alberta, Canada’s fourth most populous province, contain about 170 billion barrels of petroleum, the largest pool outside Saudi Arabia. The Standard & Poor’s 500 index went down 0.4 percent.

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