By Levent Uslu
TORONTO (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday, adding to the previous session's losses, as escalating trade tensions reduced global risk appetite and investors awaited a speech by the Federal Reserve's chair.
U.S. stocks opened lower as China's threat to impose tariffs on $75 billion worth of U.S. goods ratcheted up trade tensions ahead of Fed Chairman Jerome Powell's speech in Jackson Hole, Wyoming.
Canada exports many commodities, including oil, so its economy could be hurt by a slowdown in the flow of global trade.
The Canadian dollar
Oil prices fell sharply one the worsening U.S.-China trade tensions. U.S. crude oil futures
Meanwhile, domestic data showed Canadian retail sales were unchanged in June from May. Analysts surveyed by Reuters had forecast a 0.1% decrease.
Canadian government bond prices were higher across the yield curve, with the two-year
(Reporting by Levent Uslu; editing by Jonathan Oatis)