By Commodity News Service Canada
WINNIPEG, MB, Dec. 21, 2017 (CNS Canada) – The Canadian
dollar rose Thursday morning as the November inflation rate hit
its highest point since the start of the year.
At 8:56 CST Thursday morning the Canadian dollar was at
US$0.7844 or C$1.2746, which compares with Wednesday’s North
American close of US$0.7787 or C$1.2842.
Higher gasoline prices and increased consumer spending
lifted Canada’s November inflation rate to its highest level
since the start of the year, according to Statistics Canada. The
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1.4 per cent in October.
Oil prices fell Thursday as the operator of Britain’s
Forties pipeline in the North Sea said it was expected to
restart in early January after repairs over Christmas. Oil
prices have risen since the pipeline shut down on Dec. 11. Brent
crude prices fell Thursday by 15 cents to US$64.41 per barrel,
following the announcement.
Wall Street opened higher Thursday after data showed the
United States economy grew at its fastest pace in more than two
years in the third quarter, while investors eyed gains from
sweeping corporate tax cuts passed by Congress this week. The
Dow Jones Industrial Average gained 64.55 points, or 0.26 per
cent, to 2,684.62. The Nasdaq Composite rose 12.03 points, or
0.17 per cent, to 6,972.99.
The Toronto TSX/S&P Composite Index opened lower Thursday,
weighted by energy stocks as oil prices fell. The TSX/S&P was
down 45.21 points, or 0.28 per cent, to 16,114.46.
