By Commodity News Service Canada
WINNIPEG, MB, May 16, 2018 (CNS Canada) – The Canadian
dollar strengthened Wednesday morning, following a day of losses
on Tuesday.
At 8:46 CDT Wednesday morning the Canadian dollar was at
US$0.7794 or C$1.2818, which compares with Tuesday’s North
American close of US$0.7766 or C$1.2876.
Oil prices dropped Wednesday, ahead of an anticipated rise
in United States crude inventory that could provide more evidence
that demand may be slowing in spite of ongoing crude output cuts
Read Also
Canadian Financial Close: Loonie slips prior to expected interest rate freeze
By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar gave up a quarter cent on Tuesday, ahead…
U.S. sanctions against Iran. Brent crude fell 65 cents to
US$77.78 per barrel.
Wall Street was little changed Wednesday morning, as gains
in the retail sector were offset by a fall in the price of oil.
The Dow Jones Industrial Average gained 15.91 points, or 0.06 per
cent, to 24,722.32. The S&P 500 added 1.17 points, or 0.04 per
cent, to 2,712.62. The Nasdaq Composite rose by 4.59 points, or
0.06 per cent, to 7,356.22.
The Toronto TSX/S&P Composite Index opened lower Wednesday,
as a drop in oil prices weighed it down. The TSX/S&P fell 11.91
points, or 0.07 per cent, to 16,085.9.
