By Commodity News Service Canada
WINNIPEG, MB, March 9, 2018 (CNS Canada) – The Canadian
dollar was higher Friday morning, as an increase in the price of
oil supported it.
At 8:46 CST Friday morning the Canadian dollar was at
US$0.7787 or C$1.2862, which compares with Thursday’s North
American close of US$0.7736 or C$1.2927.
The Canadian economy added 15,400 jobs in February after a
massive loss in January, according to new data released by
Statistics Canada. The rise in employment was thanks to a gain
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per cent.
Oil prices rose Friday after two days of sell-offs amid
optimism over a planned meeting between North Korean leader Kim
Jong Un and United States President Donald Trump. Brent crude
rose 61 cents to US$64.22 per barrel.
The Dow Jones Industrial Average opened 160 points higher
after payroll data showed strong job additions in February, but
a slowdown in wage growth pointed to a gradual rise in
inflation, tempering expectations of faster interest rate
increases. The Dow Jones gained 163.58, or 0.66 per cent, to
25,058.79. The S&P 500 added 16.79 points, or 0.61 per cent, to
2,755.76. The Nasdaq Composite rose 51.50 points, or 0.69 per
cent, to 7,479.45.
The Toronto TSX/S&P Composite Index opened higher Friday,
lifted by an increase in the price of oil and base metals and
receding fears of a trade war with the U.S. The TSX/S&P rose
42.32 points, or 0.27 per cent, to 15,521.45, shortly after
open.
