By MarketsFarm
WINNIPEG, Aug. 8 (MarketsFarm) – The Canadian dollar was stronger Thursday morning, on expectations the economy will remain strong and withstand the adverse effects of the United States/China trade war, according to a Reuters poll.
As of 9:00 CDT, the Canadian dollar was at US$0.7528 or C$1.3283. That compares to Wednesday’s North American close of US$0.7506 or C$1.3322.
Crude oil prices were higher Thursday morning, on expectations of more OPEC production cuts and the China yuan firming up. West Texas Intermediate crude oil was up US$1.17 at US$52.26 per barrel, and Brent crude oil gained 86 cents at US$57.09 per barrel.
At the start of trading on Thursday, the TSX/S&P Composite Index was up 50.61 points at 16,095.24, continuing upward since yesterday’s close.
In the U.S., the Dow Jones gained 104.27 this morning to be at 26,111.34 points, the NASDAQ was up 57.09 to start at 7,919.92, and the S&P 500 inched forward 17.59 to begin at 2,901.57.
Gold was down US$14.90 at US$1,504.70 per ounce.
