By Commodity News Service Canada
WINNIPEG, MB, Dec. 5, 2017 (CNS Canada) – The Canadian
dollar was slightly higher at open Tuesday despite losses in the
price of oil.
At 9:05 CST Tuesday morning the Canadian dollar was at
US$0.7895 or C$1.2673, which compares with Monday’s North
American close of US$0.7877 or C$1.2695.
Oil prices slipped Tuesday as investors took profits in the
wake of Organization of Petroleum Exporting Countries and other
producers’ pact to extend output cuts, although an expected drop
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down 14 cents Tuesday to US$62.31 per barrel, declining for the
second day in a row.
Bitcoin hit a new record high Tuesday to US$11,850,
continuing its surge from below US$1,000 at the start of the
year.
Wall Street opened mixed Tuesday as the Nasdaq Composite
index fell due to a selloff in tech stocks continued for the
second day, while the Dow was higher as investors looked to
profit from stock that would benefit more from potential
corporate tax cuts. The Dow Jones Industrial Average increased
54.91 points, or 0.23 per cent, to 24,344.96. The S&P 500
dropped 0.02 points, 0.000758 per cent, to 2,639.42. The Nasdaq
Composite fell 18.40 points, or 0.27 per cent, to 6,756.97.
The Toronto TSX/S&P Composite Index opened lower Tuesday as
falling copper and other commodity prices weighed on mining
stocks while shares of banks pushed higher at the tail end of
their earnings season. The TSX/S&P was down 8.32 points, or 0.05
per cent, to 15,960.71.
