Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, Feb. 22, 2018 (CNS Canada) – The Canadian
dollar opened lower Thursday, as new retail data from Statistics
Canada dragged it down.

At 8:58 CST Thursday morning the Canadian dollar was at
US$0.7864 or C$1.2721, which compares with Wednesday’s North
American close of US$0.7892 or C$1.2671.

Oil prices fell Thursday dragged lower by a firmer United
States dollar which offset support from a surprise decline in
U.S. crude inventories. Brent crude futures dropped 11 cents to

Canadian retail sales fell by 0.8 per cent in December from
November, according to a release by Statistics Canada. Sales
fell at general merchandise stores and electronics and
appliance. Analysts had forecast an increase of 0.2 per cent.

Wall Street opened higher Thursday, as traders took stock
of the Federal Reserve’s views on inflation. The Dow Jones
Industrial Average gained 101.75 points, or 0.41 per cent, to
24,899.53. The S&P 500 added 11.77 points, or 0.44 per cent, to
2,713.1. The Nasdaq Composite rose 36.10 points, or 0.5 per
cent, to 7,254.33.

The Toronto TSX/S&P Composite Index opened higher Thursday,
boosted by the financial sector after Canadian Imperial Bank of
Commerce reported better-than-expected results, while shares of

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