By Commodity News Service Canada
Sept. 12 (CNS Canada) – The Canadian dollar was higher Wednesday
morning as talks continued regarding the fate of the North American
Free Trade Agreement. Some media reports said Canada was willing to
grant concessions to allow more U.S. dairy access to Canadian
markets.
The Canadian dollar was trading at US$0.7656, or C$1.3061 per
U.S. dollar at 8:44 CDT this morning. The loonie closed Sept. 11 at
US$0.7610, or C$1.3141.
The back-and-forth trade skirmishes between the United States
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Trump said Tuesday that he was continuing his tough stance on Chinese
trade, signaling that new tariffs could soon be announced. China has
vowed to stand firm.
The crash in crypto currencies is becoming one for the record
books. Virtual currencies hit new lows early Wednesday and the MVIS
CryptoCompare Digital Assets 10 Index has now fallen 80 per cent from
the January high. Analysts in the industry point out that the Nasdaq
Composite recovered from its disastrous crash 20 years ago and
products such as Bitcoin could still rebound. Security flaws, market
manipulation, tightening regulations and slow adoption were all
cited as reasons for the decline.
The S&P/TSX composite index was down 17.6 points at 8:48 a.m.
CDT, hitting 16,076.65, a decline of 0.11 per cent, as worries about
China-U.S. trade friction had investors shying away.
Prices for West Texas Intermediate (WTI) crude oil were at
US$70.18 this morning, up 93 US cents, or 1.42 per cent.
