MONEY IN BRIEF

Currencies

These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Thursday. Quotations in Canadian funds.

Australia dollar

Brazil real

China renminbi

Euro

Hong Kong dollar

India rupee

Indonesia rupiah

Japan yen

Malaysia ringgit

Mexico peso

N.Z. dollar

Norway krone

Peruvian new sol

Russia rouble

Saudi riyal

Singapore dollar

South Africa rand

South Korean won Sweden krona Switzerland franc Taiwanese dollar Thailand baht

Turkey lira

U.K. pound

U.S. dollar

Vietnam dong 1.0188 0.3965 0.2061 1.6063 0.1662 0.02006 0.000095 0.01228 0.3325 0.06966 0.9493 0.1691 0.3997 0.02270 0.3475 0.9933 0.1097 0.001221 0.1594 1.3731 0.04472 0.04179 0.3344 1.8180 1.3032 0.000057

Financial highlights

Highlights at the close Thursday at world financial market trading. Stocks:

S&P/TSX Composite Index – 15,670.62, up 17.01 points Dow – 24,873.66, up 115.54 points

S&P 500 – 2,747.33, down 2.15 points

Nasdaq – 7,481.74, down 15.07 points

Currencies:

Cdn – 76.73 cents US, down 0.53 of a cent

Pound – C$1.8180, up 1.06 cents Euro – C$1.6063, up 0.53 of a cent Euro – US$1.2326, down 0.43 of a cent

Oil futures:

US$61.19, up 23 cents

(April contract)

Gold futures:

US$1,317.80 per oz., down $7.80 (April contract)

Canadian Fine Silver Handy and Harman:

$22.201, down 12.3 cents $713.76 kg., down $3.96

The markets today

TORONTO (CP) — Canada’s main stock index closed higher Thursday while the Canadian dollar dropped for a third day after Bank of Canada governor Stephen Poloz signalled earlier this week that rate hikes could be more gradual going forward. The Canadian dollar closed at 76.73, down 0.53 of a US cent on the day, and down 1.21 cents US over the past three days.

The drop is partially related to continued expectations for rate hikes in the U.S. and potentially slower rate hikes in Canada, said Allan Small, senior investment advisor of the Allan Small Financial Group.

“Overall, it’s just the notion that the U.S. is about to embark on a higher interest rate, raising interest rates maybe as much as three or maybe even four times, whereas it seems Bank of Canada has maybe downplayed any potential increases for interest rates at least in the short term.”

The continuing uncertainty on NAFTA negotiations, with U.S. President Donald Trump making further complaints about perceived trade deficits in recent days, could also be weighing on the Canadian dollar, said Small. “I think there’s a lot of worry that these policies coming out of Washington obviously will negatively impact our economy, which obviously is hurting the dollar as well.”

The S&P/TSX composite index closed up 17.01 points to 15,670.62, led by financials and energy stocks.

In New York, the Dow Jones industrial average was up 115.54 points to 24,873.66.