By Commodity News Service Canada
WINNIPEG, MB, Feb. 8, 2018 (CNS Canada) – The Canadian
dollar was slightly lower Thursday as a decline in the price of
oil was offset by a little changed stock market.
At 8:58 CST Thursday morning the Canadian dollar was at
US$0.7961 or C$1.2569, which compares with Wednesday’s North
American close of US$0.7971 or C$1.2546.
Oil prices fell to its lowest level in six weeks Thursday,
after data showed U.S. crude output had reached record highs and
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outage. Brent crude dropped 58 cents to US$64.93 per barrel.
Canadian housing starts declined less than expected in
January, according to data from the Canadian Mortgage and
Housing Corporation released Thursday. New groundbreaking on
single-detached homes in urban areas increased. The seasonally
adjusted annual rate of starts fell slightly to 216,210 in
January from December’s 216,275. Economists had forecast a
decline to 210,000 homes.
Wall Street opened mixed Thursday with investors assessing
markets as volatility eased after hitting its highest level in
more than two-and-a-half years earlier in the week. The Dow
Jones Industrial Average dropped 65.44 points, or 0.26 per cent,
to 24,827.91. The S&P 500 fell 1.22 points, or 0.04 per cent, to
2,680.44. The Nasdaq Composite rose 16.48 points, or 0.23 per
The Toronto TSX/S&P Composite Index opened little changed
Thursday as declines in the financial sector were offset by
firmer energy shares, as well as gains in BCE Inc. after the
company reported its quarterly results. The TSX/S&P was off
about 4.09 points, or 0.03 per cent, to 15,326.49.
