Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Nov. 22, 2017 (CNS Canada) – The Canadian
dollar was up at open Wednesday as crude oil prices reached
highs not seen since 2015.

At 8:55 CST Wednesday morning the Canadian dollar was at
US$0.7846 or C$1.2749, which compares with Tuesday’s North
American close of US$0.7826 or C$1.2778.

Oil prices gained Wednesday as United States crude hit
US$58 for the first time since July, 2015. The Keystone pipeline
is expected to cut deliveries by 85 per cent or more by the end
of the month, which will pressure the market.

Wall Street’s main indexes opened little changed Wednesday,
but the Nasdaq managed to hit a record high as technology stocks
continued to power the markets. The Dow Jones Industrial gained
3.3 points, or 0.01 per cent, to 23,594.13. The S&P 500 added
0.79 points, or 0.03 per cent, to 2,599.82. The Nasdaq Composite
rose 7.83 points, or 0.11 per cent, to 6,870.31.

The Toronto TSX/S&P Composite Index rose Wednesday as
energy stocks and U.S. crude oil prices helped support it. The
TSX/S&P added 40.63 points, or 0.25 per cent, to 16,117.28.