By Commodity News Service Canada
WINNIPEG, MB, June 18, 2018 (CNS Canada) – The Canadian
dollar was slightly lower Monday, as fears increased over an
escalating trade war between China and the United States.
At 8:50 CDT Monday morning the Canadian dollar was at
US$0.7581 or C$1.3188, which compares with Friday’s North
American close of US$0.7589 or C$1.3177.
Oil prices rose Monday before an Organization of the
Petroleum Exporting Countries meeting this week. It is expected
they will increase global crude supply. Brent crude gained 96
cents to settle at US$74.40 per barrel.
Wall Street dropped Monday morning, as the ongoing trade
dispute between the U.S. and China intensified. The Dow Jones
lost 208.44 points, or 0.83 per cent, to 24,992.04. The S&P 500
dropped 18.55 points, or 0.68 per cent, to 2,761.11. The Nasdaq
Composite fell 53.82 points, or 0.69 per cent, to 7,692.55.
The Toronto TSX/S&P Composite Index opened lower Monday over
the escalating trade war. The TSX/S&P dropped 51.38 points, or
0.31 per cent, to 16,263.04.
