Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Nov. 9, 2017 (CNS Canada) – The Canadian
dollar was little changed Thursday, due to a decline in the
United States dollar and rise in the price of oil.

At 9:02 CST Thursday morning the Canadian dollar was at
US$0.7858 or C$1.2712 which compares with Wednesday’s North
American close of US$0.7856 or C$1.2729.

Oil prices were up Thursday, supported by major exporter
supply cuts, but analysts have said the market could be
vulnerable to a sell-off after several months of gains. United

States crude was up 0.16 per cent at US$56.90 a barrel.

Wall Street opened lower again Thursday, weighted down by
tech and bank stocks amid rising skepticism over a Republican
tax overhaul plan. The Dow Jones Industrial Average dropped
110.47 points, or 0.47 per cent, to 23,452.89. The S&P fell
13.57 points, or 0.52 per cent, to 2,580.81. The Nasdaq
Composite fell 50.04 points, or 0.74 per cent, to 6,739.08.

The Toronto TSX/S&P Composite Index opened lower Thursday
with losses led by energy and material stocks. The S&P/TSX fell
59.53 points, or 0.37 per cent, to 16,045.82.


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