Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, June 4, 2018 (CNS Canada) – The Canadian
dollar was higher Monday, supported by gains in the stock market
and price of gold.

At 9:05 CDT Monday morning the Canadian dollar was at
US$0.7742 or C$1.2908, which compares with Friday’s North
American close of US$0.7714 or C$1.2964.

Oil prices dropped Monday, as United States production hit a
record high and the Organization of the Petroleum Exporting
Countries members considered boosting supply. Brent crude dropped

Wall Street opened higher Monday, led by gains in Microsoft
and Apple as well as Friday’s robust jobs data which continued to
boost investor optimism on strength in the U.S. economy. The Dow
Jones Industrial Average added 92.34 points, or 0.37 per cent, to
24,727.55. The S&P 500 rose 7.05 points, or 0.26 per cent, to
2,741.67. The Nasdaq Composite gained 15.75 points, or 0.21 per
cent, to 7,570.08.

The Toronto TSX/S&P Composite Index opened higher Monday,
boosted by shares of precious miners, which were supported by
higher gold prices. The TSX/S&P rose 26.83 points, or 0.17 per
cent, to 16,070.37.

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