By Commodity News Service Canada
WINNIPEG, MB, March 22, 2018 (CNS Canada) – The Canadian
dollar was slightly higher Thursday morning, despite fears the
United States could spark a global trade war.
At 8:50 CDT Thursday morning the Canadian dollar was at
US$0.7747 or C$1.2905, which compares with Wednesday’s North
American close of US$0.7717 or C$1.2958.
U.S. President Donald Trump is set to announce about US$50
billion in tariffs against China over intellectual-property
violations on Thursday, according to reports. Trump is
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Oil prices fell Thursday as investors booked profits after
this week’s rally, but losses were limited by the ongoing
efforts of the Organization of Petroleum Exporting Countries and
its allies to curb supplies. Brent crude fell 61 cents to
US$68.86 per barrel.
Wall Street opened sharply lower Thursday as technology
stocks of increased regulations in the wake of Facebook Inc.’s
data privacy issues, while Trump’s plan to impose tariffs on
China stoked fears of a trade war. The Dow Jones Industrial
Average dropped 277.24 points, or 1.12 per cent, to 24,405.07.
The S&P 500 fell 27.14 points, or 1.01 per cent, to 2,684.79.
The Nasdaq Composite lost 87.81 points, or 1.2 per cent, to
7.257.47.
The Toronto TSX/S&P Composite Index opened sharply lower
Thursday, weighed down by a drop in the price of oil and fears
the U.S. might spark a trade war. The TSX/S&P dropped 120.81
points, or 0.77 per cent, to 15,554.47.
