By Commodity News Service Canada
WINNIPEG, MB, April 12, 2018 (CNS Canada) – The Canadian
dollar was weaker Thursday, as oil prices fell slightly.
At 8:55 CDT Thursday morning the Canadian dollar was at
US$0.7927 or C$1.2616, which compares with Wednesday’s North
American close of US$0.7947 or C$1.2584.
Oil prices edged off highs last reached in late 2014 due to
rising United States stocks, but remained well supported by
mounting geopolitical tension in the Middle East, shrinking
global oil inventories and expectation of a supply cut extension
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fell 22 cents to US$71.84 per barrel.
Wall Street opened higher Thursday supported by expectations
low U.S. taxes would fuel corporate earnings and a slight easing
of nerves over the Syrian conflict. The Dow Jones Industrial
Average gained 171.64 points, or 0.71 per cent, to 24,361.09. The
S&P 500 added 14.41 points, or 0.55 per cent, to 2,656.6. The
Nasdaq Composite rose 44.13 points, or 0.62 per cent, to
7,113.16.
The Toronto TSX/S&P Composite Index opened higher Thursday,
led by gains in financial stocks and as Shaw Communications
shares advanced after reporting a better-than-expected profit.
The TSX/S&P rose 34.3 points, or 0.22 per cent, to 15,292.2.
