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Canadian Dollar and Business Outlook

WINNIPEG, MB, Nov. 10, 2017 (CNS Canada), Nov 10, 2017 (Commodity News Service Canada, Inc. via COMTEX) --

The Canadian dollar was little changed Friday morning as the TSX opened flat and oil slightly rose in price.

At 8:51 CST Friday morning the Canadian dollar was at US$0.7882 or C$1.2694 which compares with Thursday's North American close of US$0.7879 or C$1.2692.

Oil prices were up Friday, supported by continuing supply cuts and expectations that an output deal will be extended at the end of the month. Brent crude was up 27 cents to US$64.22 a barrel.

Bitcoin dropped below US$7,000 Friday, falling by over US$1,000 since hitting an all-time high Wednesday. Bitcoin dropped to US$6,800 on the Luxembourg-based Bitstamp exchange before recovering a little to US$6,870 just over 20 minutes later.

The S&P and Nasdaq were lower at open on Wall Street Friday, as investors worried about a delay in corporate tax cuts, and losses on the Dow were limited by a rise in Walt Disney's shares. The Dow Jones Industrial Average dropped 16.1 points, or 0.07 per cent, to 23,445.84. The S&P 500 fell 4.57 points, or 0.17 per cent, to 2,580.05. The Nasdaq Composite lost 12.97 points, or 0.19 per cent, to 6.737.08.

The Toronto TSX/S&P Composite Index was little changed Friday, with energy stocks offsetting modest declines among some financial stocks. The TSX/S&P was up 2.29 points, or 0.01 per cent, to 16,079.80.

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