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Canadian Dollar and Business Outlook

WINNIPEG, MB, Dec. 7, 2017 (CNS Canada), Dec 07, 2017 (Commodity News Service Canada, Inc. via COMTEX) --

The Canadian dollar fell at open Thursday.

At 8:50 CST Thursday morning the Canadian dollar was at US$0.7777 or C$1.2855, which compares with Wednesday's North American close of US$0.7839 or C$1.2757.

Oil prices rose Thursday in a sign that investors are wary of pushing the market lower in response to an unexpectedly large rise in United States stocks of refined products that has increased concern about the demand outlook. Brent crude future rose 33 cents to US$61.55 per barrel.

Bitcoin rose to US$15,212 for the first time ever Thursday, up more than 10 per cent on the day, after adding more than US$2,000 to its price in fewer than 12 hours.

Wall Street opened mixed Thursday. Gains in chipmaker Broadcom and yoga-wear maker Lululemon helped lift the Nasdaq at open, while the S&P 500 and the Dow were slightly lower. The Dow Jones Industrial Average dropped 24.94 points, or 0.1 per cent, to 24,115.97. The S&P 500 fell 1.78 points, or 0.06 per cent, to 2,627.49. The Nasdaq Composite gained 3.32 points, or 0.05 per cent, to 6,779.70.

The Toronto TSX/S&P Composite Index rose Thursday, helped by gains among its heavyweight financial and energy sectors. The TSX/S&O gained 38.59 points, or 0.24 per cent, at 15,947.37.

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