By Commodity News Service Canada
WINNIPEG, MB, June 5, 2018 (CNS Canada) – The Canadian
dollar was weaker Tuesday, as a drop in the price of oil dragged
it down.
At 8:51 CDT Tuesday morning the Canadian dollar was at
US$0.7691 or C$1.3013, which compares with Monday’s North
American close of US$0.7735 or C$1.2928.
Oil prices hit a one-month low Tuesday, following a report
that the United States government had asked Saudi Arabia and
other major exporters to increase oil output. Brent crude dropped
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Wall Street opened mixed Tuesday, as the S&P and Dow were
weighed on by declines in financial and energy stocks, while a
surge in technology stocks drove gains on the Nasdaq. The Dow
Jones Industrial Average gained 6.43 points, or 0.03 per cent, to
24,820.12. The S&P 500 rose 1.59 points, or 0.06 per cent, to
2,748.46. The Nasdaq Composite added 14.90 points, or 0.20 per
cent, to 7,621.36.
The Toronto TSX/S&P Composite Index opened higher Tuesday,
as shares or precious and base metals helped boost the materials
sector. The TSX/S&P added 42.55 points, or 0.27 per cent, to
16,094.79.
