By Commodity News Service Canada
WINNIPEG, MB, Feb. 7, 2018 (CNS Canada) – The Canadian
dollar was slightly lower Wednesday as oil prices steadied and
the stock market opened slightly higher.
At 8:51 CST Wednesday morning the Canadian dollar was at
US$0.7979 or C$1.2525, which compares with Tuesday’s North
American close of US$0.7981 or C$1.2530.
Oil prices steadied Wednesday, as the boost from a report
showing a drop in United States crude inventories las week was
offset by evidence of soaring U.S. output. Brent crude futures
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Wall Street opened lower Wednesday, Tuesday saw the Dow
close with an almost two per cent gain, but that failed to calm
the nerves of traders following the Dow’s downfall on Monday.
The Dow Jones dropped 108.2 points, or 0.43 per cent, to
24,804.57. The S&P 500 fell 8.22 points, or 0.30 per cent, to
2,686.92. The Nasdaq Composite lost 22.22 points, or 0.31 per
cent, to 7,093.66.
The Toronto TSX/S&P Composite Index opened little changed
Wednesday morning, supported by gains in Manulife Financial and
the banking sector, as well a bounce-back in shares of cannabis
companies. The TSX/S&P rose 16.37 points, 0.11 per cent, to
15,280.3.
