By Commodity News Service Canada
WINNIPEG, MB, Jan. 3, 2018 (CNS Canada) – The Canadian dollar was higher Thursday morning, supported by a rise in the price of oil and gold.
At 8:49 CST Thursday morning the Canadian dollar was at US$0.7393 or C$1.3530, which compares with Wednesday’s North American close of US$0.7353 or C$1.3600.
Oil prices rebounded Thursday, supported by weakness in the American dollar and signs of an output cut by Saudi Arabia. Brent crude prices rose 94 U.S. cents to US$55.85 per barrel. U.S. light crude gained 65 U.S. cents to US$47.19 per barrel.
Gold prices rose Thursday, as fears of a global economic slowdown drove investors to metals. Spot gold added 0.3 per cent to US$1,288.49 per ounce, while U.S. gold futures were up 0.5 per cent to US$1,290.40 per ounce.
The Toronto TSX/S&P Composite Index opened lower Thursday, dragged down by technology stocks, after Apple Inc.’s slower sales warning supported fears of slowing global corporate earnings growth. The TSX/S&P lost 71.25 points, or 0.5 per cent, to 14,275.91, shortly after open.
