Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Dec. 2 (MarketsFarm) – The Canadian dollar was steady on Wednesday.

     At 8:40 CST Wednesday morning the Canadian dollar was at US$0.7725 or US$1=C$1.2944, which compares with Friday’s North American close of US$0.7721 or US$1=C$1.2952.

Global stock indices were mixed on Wednesday morning following news that Merck & Co. sold its stake in biotechnology company Moderna Inc. Moderna is currently a frontrunner in developing a COVID-19 vaccine, and reviews with United States regulators are scheduled to begin in the coming weeks.

The TSX was down 17.09 points at 8:50 CST to trade at 17,278.01 points.

Crude oil prices were narrowly mixed in early morning activity as the Organization of Petroleum Exporting Countries and its allies (OPEC+) attempt to agree to output levels before meeting tomorrow. West Texas Intermediate (WTI) was down five cents at US$44.50 per barrel. Brent Crude gained six cents to trade at US$47.48.



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