Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Nov. 10, 2017 (CNS Canada) – The Canadian
dollar was little changed Friday morning as the TSX opened flat
and oil slightly rose in price.

At 8:51 CST Friday morning the Canadian dollar was at
US$0.7882 or C$1.2694 which compares with Thursday’s North
American close of US$0.7879 or C$1.2692.

Oil prices were up Friday, supported by continuing supply
cuts and expectations that an output deal will be extended at
the end of the month. Brent crude was up 27 cents to US$64.22 a

barrel.

Bitcoin dropped below US$7,000 Friday, falling by over
US$1,000 since hitting an all-time high Wednesday. Bitcoin
dropped to US$6,800 on the Luxembourg-based Bitstamp exchange
before recovering a little to US$6,870 just over 20 minutes
later.

The S&P and Nasdaq were lower at open on Wall Street
Friday, as investors worried about a delay in corporate tax
cuts, and losses on the Dow were limited by a rise in Walt
Disney’s shares. The Dow Jones Industrial Average dropped 16.1
points, or 0.07 per cent, to 23,445.84. The S&P 500 fell 4.57
points, or 0.17 per cent, to 2,580.05. The Nasdaq Composite lost
12.97 points, or 0.19 per cent, to 6.737.08.

The Toronto TSX/S&P Composite Index was little changed
Friday, with energy stocks offsetting modest declines among some
financial stocks. The TSX/S&P was up 2.29 points, or 0.01 per
cent, to 16,079.80.

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