WINNIPEG, Oct. 25 (MarketsFarm) The Canadian dollar was slightly higher on Friday morning, holding on to gains from earlier in the week.
At 8:30 CDT, the Canadian dollar was at US$0.7654 or C$1.3065, which compares with Thursday’s North American close of US$0.7648 or C$1.3075.
A recent report from the Canada Mortgage and Housing Corporation (CMHC) said house prices are likely to push higher in coming years. “Housing starts are projected to stabilize in 2020 and 2021 at levels in line with long-run averages. This follows two years of declines from elevated levels in 2017,” said Bob Duggan, CMHC chief economist, in a release. The average price of a home is expected to be between C$539,800 and C$569,600 by 2021, compared to the 2017 average of C$488,000 to C$511,830.
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Oil prices were steady on Friday morning, following reports of OPEC and its allies potentially extending production cuts in order to outweigh global economic concerns. Brent Crude was down 15 cents at US$61.52 per barrel, and West Texas Intermediate (WTI) was down 19 cents at US$56.04 per barrel.
The TSX was steady at 8:30 CDT, unchanged at 16,369.89. The S&P 500 Index was up 5.77 points to hit 3,010.29. The Dow Jones lost 28.42 points at 26,805.53. The NASDAQ increased, up 66.01 to hit 8,185.80.
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