By Commodity News Service Canada
WINNIPEG, MB, May 15, 2018 (CNS Canada) – The Canadian
dollar was lower Tuesday morning, weighed down by a drop in the
price of gold and the stock market.
At 8:47 CDT Tuesday morning the Canadian dollar was at
US$0.7755 or C$1.2920, which compares with Monday’s North
American close of US$0.7828 or C$1.2775.
Oil prices hit a three and a half year high Tuesday,
supported by tight supplies and the thought that planned United
States sanctions against Iran will likely restrict crude oil
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per barrel.
Wall Street opened lower Tuesday over concerns of a lack of
progress in U.S.-China trade talks and as investors’ assessed
U.S. retail sales data that showed moderate gains in April. The
Dow Jones Industrial Average dropped 89.86 points, or 0.36 per
cent, to 24,809.55. The S&P 500 fell 11.54 points, or 0.42 per
cent, to 2,718.59. The Nasdaq Composite lost 50.01 points, or
0.67 per cent, to 7,361.30.
The Toronto TSX/S&P Composite Index opened lower Tuesday,
weighted by lower gold prices. The TSX/S&P dropped 12.62 points,
or 0.08 per cent, to 16,072.99.
