By Commodity News Service Canada
WINNIPEG, MB, April 20, 2018 (CNS Canada) – The Canadian
dollar was opened lower Friday, dragged down by a drop in the
price of oil.
At 8:59 CDT Friday morning the Canadian dollar was at
US$0.7862 or C$1.2724, which compares with Thursday’s North
American close of US$0.7916 or C$1.2633.
Canada’s annual inflation rate edged up to 2.3 per cent in
March, from 2.2 per cent in February, according to new data
released by Statistics Canada Friday. This is the highest level
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higher gasoline costs.
Oil prices dropped from three-year highs Friday after United
States President Donald Trump criticized the Organization of
Petroleum Exporting Countries in an early morning tweet. Brent
crude dropped more than one per cent to US$72.29 per barrel.
Wall Street opened flat Friday, as strong earnings from
industrials General Electric and Honeywell were offset by
declines in technology stocks and the price of oil. The Dow Jones
dropped 7.50 points, or 0.03 per cent, to 24,657.39. The S&P 500
lost 0.57 points, or 0.02 per cent, to 2,692.56. The Nasdaq
Composite fell 17.41 points, or 0.24 per cent, to 7,220.64.
The Toronto TSX/S&P Composite Index opened higher Friday as
offset losses in energy companies. The TSX/S&P rose 19.94 points,
or 0.13 per cent, to 15,474.36.
