By Commodity News Service Canada
WINNIPEG, MB, Dec. 29, 2017 (CNS Canada) – The Canadian
dollar rose again Friday morning, as the upswing in the price of
oil continued.
At 8:52 CST Friday morning the Canadian dollar was at
US$0.7969 or C$1.2562, which compares with Thursday’s North
American close of US$0.7944 or C$1.2588.
Oil prices hit their highest point since mid-2015 on the
final trading day of the year as an unexpected fall in American
output and a fall in commercial crude inventories stoked buying.
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supported by ongoing supply cuts by top producers Organization
of Petroleum Exporting Countries and Russia as well as strong
demand from China. Brent crude futures were up 23 cents to
US$66.39.
Wall Street opened higher Friday, led by gains in
healthcare stocks. The Dow Jones Industrial Average gained 19.07
points, or 0.08 per cent, to 24,856.58. The S&P 500 added 3.62
points, or 0.13 per cent, to 2,691.16. The Nasdaq Composite rose
2.30 points, or 0.03 per cent, to 6,952.46.
The Toronto TSX/S&P Composite Index was lower Friday, with
financial stocks, miners and energy companies slipping. The
TSX/S&P fell 24.27 points, or 0.15 per cent, to 16,197.68.
