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Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Nov. 7, 2017 (CNS Canada) – The Canadian was
slightly lower at open Tuesday, as stock markets around the
world rallied.

At 8:58 CST Tuesday morning the Canadian dollar was at
US$0.7827 or C$1.2776 which compares with Monday’s North
American close of US$0.7846 or C$1.2746.

Oil prices eased Tuesday, after posting their largest gain
in six weeks Monday. Tensions are flaring between Saudi Arabia
and Iran, just as the Saudi crown prince has tightened his grip

on power. Brent crude futures were down 32 cents to US$63.95 a
barrel, after closing 3.5 per cent higher Monday.

Stock markets around the world continued to rally Tuesday,
showing no signs of slowing down. Japan’s Nikkei hit its best
level since 1992, German’s DAX has scored a record high and
Monday’s two and a half year top in oil prices lifted European
resources stocks again.

The Dow hit a record high at open Tuesday, while the S&P
and the Nasdaq are hovering at near record levels, as the
earning season winds down and investor expectation shift to the
much-awaited cut in corporate taxes. The Dow Jones Industrial
Average gained 19.08 points, or 0.08 per cent, to 23,567.50. The
S&P 500 rose 1.33 points, or 0.05 per cent, to 2,592.46. And the
Nasdaq Composite fell 0.72 points, or 0.01 per cent, to
6,785.72.

The Toronto TSX/S&P Composite Index opened higher Tuesday,
rising 17.76 points, or 0.11 per cent, to 16,110. Over the last
five days, shares have increased by 0.53 per cent.

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