Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, March 8, 2018 (CNS Canada) – The Canadian
dollar was higher Thursday morning after news Canada could
possibly receive an exemption from the United States’ proposed
steel and aluminum tariffs.

At 8:50 CST Thursday morning the Canadian dollar was at
US$0.7757 or C$1.2888, which compares with Wednesday’s North
American close of US$0.7724 or C$1.2947.

A White House official said Wednesday night, United States
President Donald Trump plans to offer Canada and Mexico a 30-day

exemption from planned tariffs on steel and aluminum imports,
which could be extended based on progress in North American Free
Trade Agreement talks.

Oil prices held steady Thursday but were set to slip over
the week for the second time in a row against a backdrop of
rising United States crude production and an increase in
inventories. Brent crude was down 19 cents to US$64.15 per

Wall Street opened higher Thursday as fears of a global
trade war eased following news Trump could be giving exemptions
on steel and aluminum tariffs to key trading partners. The Dow
Jones Industrial Average gained 53.09 points, or 0.21 per cent,
to 24,854.45. The S&P 500 added 5.52 points, or 0.20 per cent,
to 2,732.32. The Nasdaq Composite rose 24.92 points, or 0.34 per
cent, to 7,421.57.

The Toronto TSX/S&P Composite Index opened higher Thursday
after news Canada might receive an exemption from tariffs. The
TSX/S&P rose 39.52 points, or 0.26 per cent, to 15,511.08,
shortly after open.


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