By MarketsFarm
WINNIPEG, May 17 (MarketsFarm) The Canadian dollar was down slightly on Friday morning.
At 8:45 CDT Friday morning, the Canadian dollar was at US$0.7404 or C$1.3506, which compares with Thursday’s North American close of US$0.7441 or C$1.3439.
Stock futures fell as trade talks between the United States and China appear to be at a standstill. A spokesperson from China’s Ministry of Commerce said he did not have information about U.S. officials returning to Beijing for further trade talks, according to Yahoo Finance.
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The Chinese government has also announced it is studying the impact of U.S. tariffs on the Chinese economy, and it indents to implement “responsive measures when necessary,” said Meng Wei, a spokesperson for the National Development and Reform Commission, to Bloomberg News.
Relations between the two countries were further strained when the U.S. Department of Commerce blacklisted China’s Huawei Technologies and its affiliate companies from doing business in the U.S.
Oil futures were strong ahead of the Organization of the Petroleum Exporting Countries and its allies meeting this weekend in Jeddah, Saudi Arabia. This meeting comes after Saudi Arabian oil tankers and a pumping station were attacked earlier this week, while Iran continues to face sanctions from the U.S.
West Texas International was up 44 cents to hit US$63.31 per barrel, and Brent Crude gained six cents to hit US$72.68.
The TSX lost 39.89 points at 8:45 CDT, to hit 16,403.95.
