By Commodity News Service Canada
Oct. 17 (CNS Canada) – The Canadian dollar slipped in early
trading, down 0.38 per cent Wednesday morning at US$0.7710, or
C$1.2999 at 8:28 a.m. CDT. It closed Oct. 16 at US$0.7729, or
C$1.2938.
The loonie was showing weakness against its United States
counterpart, which rose early ahead of the release of U.S.
Federal Reserve minutes. Lower factory shipments also dragged on
Canadian dollar values.
U.S. President Donald Trump said yesterday that the biggest
threat to his presidency is the U.S. Federal Reserve “because
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told Fox Business. The Fed has raised short-term interest rates
three times this year, and are seen as likely to so again in
December. Rising interest rates affect consumer borrowing costs
and has also driven up government debt-servicing costs.
Canada’s main stock index, the S&P/TSX composite opened
lower with health and energy sectors leading the decline. At
8:37 a.m. CDT the TSX composite was at 15,506.91, a fall of
72.83 points, or 0.47 per cent.
West Texas Intermediate (WTI) crude oil was at US$70.97 per
barrel, down 94 U.S. cents.
