By Commodity News Service Canada
WINNIPEG, Oct. 25 – As oil prices eased Wednesday morning,
the Canadian dollar dropped slightly from Tuesday’s close.
At 8:55 CDT Wednesday morning the Canadian dollar was at
US$0.7891 or C$1.2672 which compares with Tuesday’s North
American close of US$0.7895 or C$1.2666.
Oil prices fell Wednesday but wee still near a four-week
high after Saudi Arabia said it was determined to end a supply
glut that has been weighing on the market for three years. Brent
crude futures were down 20 cents to US$58.13 a barrel.
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corporate earnings season hit its peak, with a handful of
companies reporting lackluster results. The Dow Jones Industrial
Average fell 4.96 points, or 0.02 per cent, to 23.436.80. The
S&P 500 lost 2.79 points, or 0.10 per cent, to 2,566.24. The
Nasdaq Composite dropped 10.62 points, or 0.16 per cent to
6,587.81.
The Toronto TSX/S&P Composite index opened lower Wednesday,
dropping $36.29 or 0.23 per cent to $15,870 after setting a new
100-day high. Over the last five days shares have gained 0.55
per cent and 3.80 per cent year to date.
