By Commodity News Service Canada
WINNIPEG, MB, April 17, 2018 (CNS Canada) – The Canadian
dollar was slightly firmer Tuesday morning, supported by gains in
the stock market and price of oil.
At 8:42 CDT Tuesday morning the Canadian dollar was at
US$0.7958 or C$1.2563, which compares with Monday’s North
American close of US$0.7950 or C$1.2579.
Gold rallied last week over heightened tensions between the
United States and Syria, but couldn’t hold onto gains this week.
Spot gold fell 0.3 per cent to US$1,342.77 an ounce, while U.S.
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Oil prices edged up on Tuesday, supported by growing concern
from investors’ over potential disruptions to crude supply from
the Middle East. Brent crude rose four cents US$71.46 per barrel.
Wall Street opened higher Tuesday, as strong earnings from
Netflix, Goldman Sachs and health majors boosted optimism over
what is expected to be the strongest earnings season in seven
years. The Dow Jones Industrial Average added 108.75 points, or
0.44 per cent, to 24,681.79. The S&P 500 gained 14.90 points, or
0.56 per cent, to 2,692.74. The Nasdaq Composite rose 58.83
points, or 0.82 per cent, to 7,215.12.
The Toronto TSX/S&P Composite Index opened higher Tuesday,
supported by stronger-than-expected domestic manufacturing data
in interest rates. The TSX/S&P rose 33.8 points, or 0.22 per
cent, to 15,334.18.
