By Commodity News Service Canada
WINNIPEG, MB, March 21, 2018 (CNS Canada) – The Canadian
dollar was higher Wednesday morning as optimism a deal could be
reached for the North American Free Trade Agreement (NAFTA)
supported it.
At 8:54 CDT Wednesday morning the Canadian dollar was at
US$0.7710 or C$1.2965, which compares with Tuesday’s North
American close of US$0.7647 or C$1.3077.
United States President Donald Trump’s administration has
dropped a demand that all vehicles made in Canada and Mexico for
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This has led to optimism a deal could be reached for NAFTA soon.
Oil rose for the second day on Wednesday, nearing its
highest in six weeks after a surprise decline in U.S.
inventories and as concern persisted over possible disruption to
Middle East supply. Brent crude rose 84 cents to US$68.26 per
barrel.
Wall Street opened little changed Wednesday as traders
moved cautiously ahead of an expected U.S. Federal Reserve
interest rate hike, while a drop in Facebook’s shares on privacy
concerns weighed on the technology sector. The Dow Jones
Industrial Average gained 7.71 points, or 0.03 per cent, to
24,734.98. The S&P 500 fell 2.56 points, or 0.09 per cent, to
2,714.38. The Nasdaq Composite lost 15.35 points, or 0.21 per
The Toronto TSX/S&P Composite Index opened lower Wednesday,
before quickly reversing course, led by financials and energy
stocks, though investors were on edge ahead of an imminent U.S.
interest rate hike. After open the TSX/S&P was up 19.90 points,
or 0.13 per cent, to 15,636.26.
