By MarketsFarm
WINNIPEG, Aug. 2 (MarketsFarm) – The Canadian dollar was down slightly Wednesday morning, with the North American stock markets moving downward.
As of 9:50 CDT, the Canadian dollar was at US$0.7550 or C$1.3244. That compares to Thursday’s North American close of US$0.7566 or C$1.3217.
At the start of trading the TSX/S&P Composite Index was down 118.92 at 16,258.12 points as confusion in the U.S. markets has spilled over into the TSX.
The major U.S. markets were down due to United States President Donald Trump’s announcement to hike tariffs on Chinese imports by another 10 per cent on September and with the U.S. Federal Reserve being non-committal on further interest rate cuts. The Dow Jones slid 175.37 at 26,408.05, the NASDAQ dropped 108.73 at 8,002.39 and the S&P 500 was down 24.46 at 2,929.10.
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Crude oil prices were up Friday morning as they rebounded from Thursday’s sharp losses following Trump’s announcement. West Texas Intermediate crude oil was up US$1.31 at US$55.26 per barrel, and Brent crude oil was up US$1.78 at US$62.28 per barrel.
Gold was up US$23.50 at US$1,455.90 per ounce.
