Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, MB, June 8, 2018 (CNS Canada) – The Canadian
dollar was slightly lower Friday, as the stock market and oil
prices dipped.

At 8:46 CDT Friday morning the Canadian dollar was at
US$0.7704 or C$1.2989, which compares with Thursday’s North
American close of US$0.7709 or C$1.2972.

Oil prices fell Friday, as weakening demand in China and
surging United States output weighed on markets despite supply
woes in Venezuela and Iran as well as the Organization of the

Wall Street opened lower Friday, led by falls in shares of
Apple and its suppliers, including Advanced Micro Devices and
Qualcomm, following a report that the iPhone maker was planning
to producer fewer new phones this year than last year. The Dow
Jones Industrial Average dropped 26.52 points, or 0.11 per cent,
to 25,214.89. The S&P 500 fell 3.58 points, 0.13 per cent, to
2,766.79. The Nasdaq Composite lost 24.90 points, or 0.33 per
cent, 7,610.17.

The Toronto TSX/S&P Composite Index opened lower Friday,
weighed by losses in financial stocks. The TSX/S&P fell 26.15
points, or 0.16 per cent, to 16,166.63.

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