By Commodity News Service Canada
WINNIPEG, Oct. 11 – The Canadian dollar was little changed
after the opening bell on Wednesday morning.
At 8:57 CDT Wednesday morning the Canadian dollar was at
US$0.7998 or C$1.2503 which compares with Tuesday’s North
American close of US$0.7999 or C$1.2501.
The Organization of the Petroleum Exporting Countries,
Russia is now forecasting a higher demand for its oil in 2018.
In OPEC’s monthly report it said the market could find support
in winter from low distillate fuel stocks and forecasts of
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heating. This is the third consecutive monthly increase in
projection since OPEC’s first estimate made in July.
Prime Minister Justin Trudeau is meeting in Washington
today with President Donald Trump to talk ongoing NAFTA
negotiations, while the fourth round of negotiations begin.
Trudeau will be reminding Trump once again of NAFTA’s merits and
has been quoted as saying that “it has led to great
opportunities for our citizens.”
In the United States, Wall Street was sluggish at opening
Wednesday morning. The Dow Jones rose 3.99 points, or 0.02 per
cent, to 22,834.67. The S&P dropped 0.56 points, or 0.02 per
cent, to 2.550.08, and the Nasdaq lost 0.37 points, or 0.01 per
cent, to 6,586.88.
The TSX/S&P Composite was up today at the opening by 31.41
points, or 0.20 per cent, to 15,800, setting a new 100-day high.
Over the last five days, shares have gained 0.51 per cent.
Shares have performed on part with the S&P TSX during the last
year.
