Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, May 10, 2018 (CNS Canada) – The Canadian
dollar was higher Thursday, supported by gains in the stock
market and price of oil.

At 8:48 CDT Thursday morning the Canadian dollar was at
US$0.7829 or C$1.2778, which compares with Wednesday’s North
American close of US$0.7778 or C$1.2856.

Oil prices rose Thursday, heading for its largest weekly
increase in a month, as the market prepared for potential
disruption to crude flows from major exporter Iran in the face of

Wall Street opened higher Thursday as a weaker-than-expected
rise in U.S. consumer prices in April cooled inflation fears. The
Dow Jones Industrial Average gained 49.12 points, or 0.20 per
cent, to 24,591.66. The S&P 500 added 7.23 points, or 0.27 per
cent, to 2,705.02. The Nasdaq Composite gained 16.00 points, or
0.22 per cent, to 7,355.90.

The Toronto TSX/S&P Composite Index opened higher Thursday
as strong results from Enbridge boosted the energy sector, while
gold miners gained with higher prices for the precious metal. The
TSX/S&P was up 16.75 points, or 0.11 per cent, to 15,927.56.

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