By Commodity News Service Canada
WINNIPEG, MB, May 17, 2018 (CNS Canada) – The Canadian
dollar was slightly lower Thursday morning, despite gains in the
price of oil and the stock market.
At 8:59 CDT Thursday morning the Canadian dollar was at
US$0.7802 or C$1.2820, which compares with Wednesday’s North
American close of US$0.7807 or C$1.2809.
Oil prices reached US$80 per barrel Thursday for the first
time since November, 2014 on concerns that Iranian exports could
fall because of renewed United States sanctions reducing supply
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US$80.18 per barrel, before retreating to US$79.67 per barrel.
Wall Street opened lower Thursday after Cisco’s
disappointing forecast pressured all the three main indexes,
while concerns over rising U.S. Treasury yields and looming trade
talks persisted. The Dow Jones Industrial Average dropped 16.53
points, or 0.07 per cent, to 24,752.40. The S&P 500 lost 2.75
points, or 0.10 per cent, to 2,719.71. The Nasdaq Composite fell
by 18.72 points, or 0.25 per cent, to 7,379.58.
The Toronto TSX/S&P Composite Index opened higher Thursday,
as energy shares gained after oil prices reached four year highs.
The TSX/S&P rose 15.67 points, or 0.1 per cent, to 16,123.73.
