By MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) The Canadian dollar was slightly higher on Friday morning. The dollar has stayed relatively steady this week despite a spate of economic data that pointed to global economic slowdown.
At 8:45 CDT, the Canadian dollar was at US$0.7516 or C$1.3305, which compares with Thursday’s North American close of US$0.7502 or C$1.3330.
The United States Federal Reserve is expected to cut interest rates again next week, for the third time this year. Market participants will be listening closely to Federal Reserve Chair Jerome Powell’s speech on Friday afternoon.
Oil prices were higher on Friday, but remained lower on the week amid fear of lessening energy demand due to slowed global economic growth. Brent Crude oil futures hovered around US$58 on Friday morning, up by 94 U.S. cents. West Texas Intermediate prices were in the US$52 range, up 50 U.S. cents.
The TSX gained at 8:45 CDT, up 12.14 points at 16,381.17. The S&P 500 Index was up 15.40 points to hit 2,926.56. Similarly, the Dow Jones gained 122.42 points at 26,358.84. The NASDAQ increased, up 40.24 to hit 7,911.16.
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