Canadian Dollar and Business Outlook: Loonie holding near unchanged

By Commodity News Service Canada

WINNIPEG, Jan. 24 (CNS Canada) – The Canadian dollar is holding near unchanged Thursday morning in light of the North American stock markets getting off to a mixed start.

At 8:55 CST Thursday morning the Canadian dollar was at US$0.7491 or C$1.3347, which compares with Wednesday’s North American close of US$0.7492 or C$1.3348.

The TSX/S&P Composite Index was up 11.93 points Thursday morning at 15,220.26.

Following a comment from United States Commerce Secretary Wilbur Ross, in which he said the U.S. and China are “miles and miles” apart from resolving their trade war, U.S. stock markets had a mixed reaction. The Dow Jones began trading falling 104.69 points at 24,470.93, while the S&P 500 edged up 0.99 points to 2,639.69. The NASDAQ gained 26.19 points to 7,051.96.

Oil prices are up by 12 cents Thursday morning. West Texas Intermediate crude is at US$52.74 per barrel after closing Wednesday at US$52.62.

Gold is down by US$1.90 Thursday morning to US$1,282.20 per ounce.

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