By Commodity News Service Canada
WINNIPEG, MB, March 23, 2018 (CNS Canada) – The Canadian
dollar was higher Friday morning, supported by gains in the
stock market and price of oil.
At 9:01 CDT Friday morning the Canadian dollar was at
US$0.7790 or C$1.2847, which compares with Thursday’s North
American close of US$0.7747 or C$1.2908.
Canada’s annual pace of inflation sped up 2.2 per cent in
February, according to a release by Statistics Canada Friday.
This was above the central bank’s ideal target of two per cent.
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which rose by 12.6 per cent, while pricier items like restaurant
meals and passenger vehicles also had impacts.
Oil prices rose on Friday after the Saudi energy minister
said Organization of Petroleum Exporting Countries would need to
keep coordinating supply cuts with non-member countries
including Russia into 2019. Brent crude rose 19 cents to
US$69.10 per barrel.
Wall Street opened higher Friday, helped by gains in Nike
and Facebook, after steep losses a day earlier on fears of a
global trade war after the U.S. slapped tariffs on Chinese
imports. The Dow Jones Industrial Average gained 92.38 points,
or 0.39 per cent, to 24,050.27. The S&P 500 added 7.43 points,
or 0.28 per cent, to 2,651.12. The Nasdaq Composite rose 11.61
The Toronto TSX/S&P Composite Index opened higher Friday,
led by materials shares as gold prices surged to a one-month
high. The TSX/S&P gained 46.21 points, or 0.3 per cent, to
15,446.14.
