By Commodity News Service Canada
WINNIPEG, MB, Dec. 28, 2017 (CNS Canada) – The Canadian
dollar was higher Thursday, supported by near two-and-a-half
year highs in the price of oil.
At 9:08 CST Thursday morning the Canadian dollar was at
US$0.7940 or C$1.2605, which compares with Wednesday’s North
American close of US$0.7911 or C$1.2641.
Oil prices stood near their highest level in two-and-a-half
years, supported by strong data from top importer China amid
thin trading activity ahead of the New Year weekend. Brent crude
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this week for the first time since May, 2015.
The American dollar held a near one-month low against a
basket of currencies Thursday as the latest jobless claims data
suggesting a firm labour market was offset by an advance trade
gap in November. As of Thursday morning the dollar was down 0.38
per cent at 92.676 U.S. cents.
Wall Street opened higher in thin holiday trading Thursday,
supported by a rally in commodities and a weaker dollar. The Dow
Jones Industrial Average gained 46.86 points, or 0.19 per cent,
to 24,821.16. The S&P 500 added 3.57 points, or 0.13 per cent,
to 2,686.19. The Nasdaq Composite rose 14.14 points, or 0.2 per
cent, to 6,953.48.
The Toronto TSX/S&P Composite Index was little changed
Thursday, hovering near a record high, as energy and marijuana
companies shares added to Wednesday’s gains, offsetting losses
for the industrial group. The TSX/S&P composite fell 1.38
points, or 0.01 per cent, to 16,201.75, shortly after open.
