By Commodity News Service Canada
Aug. 21 (CNS Canada) – The Canadian dollar
posted small gains early this morning, continuing
the ride it has been on since Friday. Much of the
gains are due to a selloff in U.S. currency and rises
in oil prices.
The Canadian/U.S. exchange was at US$0.7670, or
C$1.3038 this morning. The loonie closed yesterday
at US$7654, or C$1.3065.
West Texas Intermediate crude oil was 2.45 per
cent higher at US$68.06, an increase of US$1.63.
Read Also
Canadian Financial Close: Loonie returns above 72 U.S. cents
By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar on Friday finally turned around to close higher,…
second time in three months, led by lower sales in
automobiles and parts, Statistics Canada reported
today. Wholesale trade fell by 0.8 per cent in June
from May. Decreases were reported in five of the
seven subsectors studied and in eight of 10
provinces.
Some U.S. economists say growth in that country
is on track to hit three per cent or more for the
second half of 2018, thanks to savings provided
through tax cuts. However, trade tariffs and the
potential for the Federal Reserve to hike interest
rates may quell some optimism.
The S&P/TSX index was up slightly by 0.35 per
cent, or 56.49 points, at 16,387.52 at 8:36 a.m. CDT.
