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Canadian dollar shakes off recent losses

August 11, 2017 3:54 PM
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Canadian dollar shakes off recent losses

TORONTO - The loonie was shaking off its slumber in late morning trading today after racking up losses for more than a week.

The Canadian dollar was trading at 78.77 cents US, up from Thursday's average price of 78.67 cents US.

On Bay Street, the Toronto Stock Exchange's S&P/TSX composite index was down 58.08 points to 15,016.17 about 90 minutes after trading began.

Trader sentiment was better in New York after markets incurred the biggest single-day drop in nearly three months on Thursday.

Despite simmering concerns about the standoff between the U.S. and North Korea, the Dow Jones industrial average gained 53.23 points to 21,897.24, the S&P 500 index edged up 8.60 points to 2,446.81 and the Nasdaq composite index added 34.63 points to 6,251.50.

The September crude contract lost 22 cents to US$48.37 per barrel and the September natural gas contract was unchanged at US$2.98 per mmBTU.

The December gold contract advanced $1.50 to US$1,285.20 an ounce and the September copper contract was unchanged at US$2.91 a pound.

Also read: Canadian tourists still visiting U.C. despite trade conflict


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