Canadian Dollar and Business Outlook

Posted

By Commodity News Service Canada


WINNIPEG, MB, Oct. 12, 2017 (CNS Canada) – The Canadian

dollar was little changed at opening bell Thursday morning.


At 8:58 CDT Thursday morning the Canadian dollar was at

US$0.8011 or C$1.2486 which compares with Wednesday’s North

American close of US$0.8001 or C$1.2498.


United States President Donald Trump said Wednesday he is

open to bilateral trade pacts with either Canada or Mexico if a

three-way deal cannot be reached. The comments came as Prime

Minister Justin Trudeau visited Trump at the Whitehouse to

promote NAFTA’s benefits.


Delta Air Lines has said it will refuse to pay a 300 per

cent U.S. tariff on Bombardier CSeries jets, which is raising

doubts about the companies plan to purchase 75 new aircrafts.

Delta is the only major U.S. carrier to buy the CSeries so far.


Crude oil prices fell Thursday as U.S. fuel inventories

rose despite OPEC’s efforts to cut production. Brent crude was

down 55 cents to US$56.39 a barrel and light crude was 70 cents

lower to US$50.60.


In the United States, Wall Street opened slightly lower

Thursday. The Dow Jones lost 29.34 points, or 0.13 per cent, to

22,843.55. The S&P dropped 3.31 points, or 0.12 per cent, to

2,551.93. And the NASDAQ fell 9.09 points, or 0.14 per cent, to

6,594.46.


The TSX/S&P Composite opened lower Thursday morning,

dropping 27.14 points, or 0.17 cents, to 15,770 after reaching a

100-day high. Over the last five days, shares are unchanged, but

are currently 1.07 per cent below their 52-week high.