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Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Oct. 27, 2017 (CNS Canada) – The Canadian
dollar fell Friday as the price of oil dropped as well.

At 8:59 CDT Friday morning the Canadian dollar was at
US$0.7744 or C$1.2910 which compares with Thursday’s North
American close of US$0.7794 or C$1.2831.

Oil prices dropped Friday after Brent Crude rallied just
below US$60 a barrel Thursday. Brent Crude fell to US$58.92 a
barrel, following Thursday’s rise to US$59.55, its highest since
July, 2015 and more than 30 per cent above its 2017 lows hit in

June.

The S&P and Nasdaq opened higher Friday as strong earnings
from technology giants and a better-than-expected quarterly
United States GDP growth lifted investor sentiment. The Dow was
little changed, as it was weighted down by Chevron. The Dow
Jones Industrial Average dropped 25.2 points, or 0.11 per cent,
to 23,375.66. The S&P 500 rose 8.13 points, or 0.31 per cent, to
2,568.53. The Nasdaq Composite gained 75.03 points, or 1.14 per
cent, to 6,631.80.

The Toronto TSX/S&P Composite Index slipped Friday. The
TSX/S&P is down 3.55 points today to 15,890. Over the last five
days shares are unchanged, but have gained 3.93 per cent over
the last year to date.

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