By Commodity News Service Canada
WINNIPEG, MB, Feb. 23, 2018 (CNS Canada) – The Canadian
dollar was higher Friday morning, taking support from the stock
market.
At 8:59 CST Friday morning the Canadian dollar was at
US$0.7880 or C$1.2692, which compares with Thursday’s North
American close of US$0.7868 or C$1.2709.
Oil prices slipped Friday as rising United States oil
output and exports countered Organization of the Petroleum
Exporting Countries led attempts to erode stockpiles with output
curbs and a dip in Libyan production. Brent crude dropped 11
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Canada’s annual inflation rate pulled back in January as
consumers paid less for gasoline and vehicles, offsetting a
pick-up in the cost of food, while underlying inflation firmed,
data from Statistics Canada showed Friday. The annual inflation
rate was 1.7 per cent in January, down from 1.9 per cent in
December, above economists’ forecasts for 1.4 per cent.
Wall Street opened higher Friday, led by gains in
technology stocks. The Dow Jones Industrial average gained 141.9
points, or 0.57 per cent, to 25,104.29. The S&P 500 added 15.52
points, or 0.57 per cent, to 2,719.48. The Nasdaq Composite rose
51.44 points, or 0.71 per cent, to 7,261.53.
The Toronto TSX/S&P Composite Index opened higher Friday,
boosted by gains for the Royal Bank of Canada after it reported
climbed. The TSX/S&P rose 47.98 points, or 0.31 per cent, to
15,556.1.
