By Commodity News Service Canada
WINNIPEG, MB, Mar. 5, 2018 (CNS Canada) – The Canadian
dollar opened lower Monday, as fears continued to grow over
United States President Donald Trump’s threats to impose tariffs
on steel and aluminum.
At 9:00 CST Monday morning the Canadian dollar was at
US$0.7704 or C$1.2977, which compares with Friday’s North
American close of US$0.7757 or C$1.2891.
Oil prices edged lower toward US$64 per barrel on Monday on
predictions of a major spike in U.S. oil output in the next five
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Wall Street opened lower Monday as investors remained
concerned about the increasing likelihood of a global trade war
following Trump’s threat to impose hefty tariffs on steel and
aluminum. The Dow Jones Industrial Average dropped 141.26
points, or 0.58 per cent, to 24,396.80. The S&P 500 fell 12.75
points, or 0.47 per cent, to 2,678.50. The Nasdaq Composite lost
33.64 points, or 0.46 per cent, to 7,224.22.
The Toronto TSX/S&P Composite Index opened lower on Monday,
following global stocks down on fears of a trade war with the
U.S. if Trump proceeds on the tariffs. The TSX/S&P fell 44.38
points, or 0.3 per cent, lower at 15,384.59.
