By Commodity News Service Canada
WINNIPEG, MB, Dec. 20, 2017 (CNS Canada) – The Canadian
dollar rose slightly, supported by gains in the price of oil and
the stock market.
At 9:08 CST Wednesday morning the Canadian dollar was at
US$0.7780 or C$ 1.2854, which compares with Tuesday’s North
American close of US$0.7760 or C$1.2886.
Oil prices edged up Wednesday, supported by the expectation
of a fall in United States inventories and the continued outage
of the North Sea Forties pipeline system. Brent crude futures
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Bitcoin fell more than 10 per cent Wednesday to a one-week
low of US$15,800 on the cryptocurrency exchange Bitstamp, losing
almost one-fifth of its value from a peak hit just three days
ago. The cryptocurrency has been sliding since it reached a
record high of US$19,666 Sunday, when Chicago Mercantile
Exchange and Chicago Board of Trade launched bitcoin futures.
Wall Street opened higher Wednesday after the U.S. Senate
approved a sweeping US$1.5 trillion tax bill which is expected
to boost corporate earnings and lead to higher dividends and
stock buybacks for investors. The Dow Jones Industrial Average
gained 93.69 points, or 0.38 per cent, to 24,848.44. The S&P 500
added 9.13 points, or 0.34 per cent, to 2,690.60. The Nasdaq
The Toronto TSX/S&P Composite Index rose at open Wednesday,
with BlackBerry Ltd. jumping after reporting better-than-
expected quarterly earnings. The TSX/S&P gained 22.81 points, or
0.14 per cent, to 16,156.16.
