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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Jan. 15 (MarketsFarm) The Canadian dollar was slightly lower on Wednesday, ahead of the scheduled signing of Phase One of the trade deal between the United States and China.

At 9:00 CST, the Canadian dollar was at US$0.7648 or C$1.3075., which compares with Tuesday’s North American close of US$0.7656 or C$1.3062.

Stock performances were muted in anticipation of the trade deal. Specific details will be released after the agreement is signed, according to the White House.

Oil prices were near six-week lows following a report from the American Petroleum Institute that showed an increase in U.S. crude stockpiles. Brent Crude was down by 13 cents at US$64.36 per barrel, and West Texas Intermediate (WTI) was down by 20 cents at US$58.03 per barrel.

The TSX was slightly higher at 9:00 CST, up by 40.94 points at 17,393.84. The S&P 500 Index was up 6.38 points to hit 3,289.42. The Dow Jones gained 57.28 points at 28,996.13. The NASDAQ increased slightly, up 20.02 to hit 9,270.23.

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