Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Dec. 7, 2017 (CNS Canada) – The Canadian
dollar fell at open Thursday.

At 8:50 CST Thursday morning the Canadian dollar was at
US$0.7777 or C$1.2855, which compares with Wednesday’s North
American close of US$0.7839 or C$1.2757.

Oil prices rose Thursday in a sign that investors are wary
of pushing the market lower in response to an unexpectedly large
rise in United States stocks of refined products that has
increased concern about the demand outlook. Brent crude future
rose 33 cents to US$61.55 per barrel.

Bitcoin rose to US$15,212 for the first time ever Thursday,
up more than 10 per cent on the day, after adding more than
US$2,000 to its price in fewer than 12 hours.

Wall Street opened mixed Thursday. Gains in chipmaker
Broadcom and yoga-wear maker Lululemon helped lift the Nasdaq at
open, while the S&P 500 and the Dow were slightly lower. The Dow
Jones Industrial Average dropped 24.94 points, or 0.1 per cent,
to 24,115.97. The S&P 500 fell 1.78 points, or 0.06 per cent, to
2,627.49. The Nasdaq Composite gained 3.32 points, or 0.05 per
cent, to 6,779.70.

The Toronto TSX/S&P Composite Index rose Thursday, helped
by gains among its heavyweight financial and energy sectors. The
TSX/S&O gained 38.59 points, or 0.24 per cent, at 15,947.37.