By MarketsFarm
WINNIPEG, Nov. 15 (MarketsFarm) The Canadian dollar was slightly stronger on Friday morning, bouncing back from a week of lows.
At 8:20 CST, the Canadian dollar was at US$0.7550 or C$1.3245, which compares with Thursday’s North American close of US$0.7543 or C$1.3258.
Global stocks were mixed to start the day, following reports that United States retail sales were strong in the month of October. Overall sales increased by 0.3 per cent when compared to the month prior. On Thursday, Federal Reserve Chair Jerome Powell spoke positively about the future of economic growth in the U.S. A low jobless rate has also underpinned consumer spending.
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Oil prices were steady following reports that Canada’s oil and gas industry eliminated over 13,700 jobs since 2018. The Canadian Association of Oilwell Drilling Contractors (CAODC) said some federal legislation was “standing in the industry’s way.” Brent Crude was up by five cents at US$62.33 per barrel, and West Texas Intermediate (WTI) was up 17 cents at US$56.94 per barrel.
The TSX was slightly stronger at 8:35 CST, up by 14.05 at 16,987.95. The S&P 500 Index was up 2.59 points to hit 3,109.74. The Dow Jones gained 95.12 points at 27,880.66. The NASDAQ increased, up 45.42 to hit 8,524.28.
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