By Commodity News Service Canada
WINNIPEG, MB, Oct. 24, 2017 (CNS Canada) – The Canadian
dollar opened slightly lower Tuesday morning despite increases
in the price of oil.
At 9:03 CDT Tuesday morning the Canadian dollar was at
US$0.7905 or C$1.2651 which compares with Monday’s North
American close of US$0.7911 or C$1.2644.
Oil prices rose to US$58 a barrel Tuesday after top
exporter Saudi Arabia said it was determined to end a supply
glut, while prices also drew support from forecasts of a further
drop in U.S. crude inventories.
The Dow Jones Industrial Average opened at a record high
Tuesday morning, powered by a six per cent surge in
Caterpillar’s shares. The Dow added 130.2 points, or 0.56 per
cent, to 23,404.21. The S&P 500 rose 4.96 pints, or 0.19 per
cent, to 2,569.94. The Nasdaq Composite gained 11.99 points, or
0.18 per cent, to 6,598.82.
The Toronto TSX/S&P Composite index opened higher Tuesday
morning as increases in the price of oil helped prop up the
index. It increased by 53.29, or 0.34 per cent, to 15,910
setting a new 100-day high.
