By Commodity News Service Canada
WINNIPEG, MB, March 6, 2018 (CNS Canada) – The Canadian
dollar opened higher Tuesday, supported by slight gains in the
stock market and price of oil.
At 8:54 CST Tuesday morning the Canadian dollar was at
US$0.7743 or C$1.2907, which compares with Monday’s North
American close of US$0.7706 or C$1.2977.
Oil prices were mostly unchanged Tuesday, as a recovery
from last week’s lows fizzled out, although ongoing production
restrictions by the world’s largest exporters prevented prices
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per barrel.
Wall Street opened higher Tuesday as the prospect of talks
between North Korea and the United States and increasing
resistance to U.S. President Donald Trump’s proposed metals
tariffs encouraged risk appetite among investors. The Dow Jones
Industrial Average gained 108.53 points, or 0.44 per cent, to
24,983.29. The S&P 500 gained 10.17 points, or 0.37 per cent, to
2,731.11. The Nasdaq Composite added 35.81 points, or 0.49 per
cent, to 7,366.51.
The Toronto TSX/S&P Composite Index opened little changed
Tuesday, supported by gains in natural resource shares. Shortly
after open the TSX/S&P was up 13.55 points, or 0.09 per cent, to
15,554.83.
