Friday, December 19th1.0°C
24295
24285

Holidays, fiscal cliff drive Loonie

TORONTO - The Canadian dollar was up slightly on Monday morning as financial markets prepared for the Christmas holiday.

The loonie was at 100.77 cents US, up 0.11 of a cent shortly before markets opened. The currency will trade in a shortened session ending at 12 noon ET.

Key U.S. lawmakers are already predicting that much of their holiday season will be spent in Washington, D.C., as they seek to bridge a gap between the Republican-dominated lower house and the White House.

A deal must be reached if the United States is to avoid going over the so-called fiscal cliff, which would involve the automatic imposition of hundreds of billions of dollars in spending cuts and tax increases that could plunge the world's largest economy back into recession and depress economies around the world.

President Barack Obama said Friday that he is "ready and willing" to get a big package done to deal with the fiscal cliff, adding there's no reason not to protect middle-class Americans from tax increases.

In commodities, the January crude contract on the New York Mercantile Exchange slid 17 cents to US$88.49 a barrel.

March copper was up 1.5 cents at US$3.55 a pound. February bullion added $2.20 to US$1,662.30 an ounce.

The Canadian Press


Read more Business News

24380


Recent Trending




Today's Market
S&P TSX14346.75+133.36
S&P CDNX665.50+6.47
DJIA17778.15421.28
Nasdaq4748.396+104.085
S&P 5002061.23+48.34
CDN Dollar0.8624-0.0009
Gold1196.50+1.80
Oil54.97+0.86
Lumber336.00-0.90
Natural Gas3.606-0.036

 
Okanagan Companies
Pacific Safety0.13+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.28+0.01
Cantex0.03-0.005
Anavex Life Sciences0.17+0.0041
Metalex Ventures0.055+0.005
Russel Metals26.00-1.18
Copper Mountain Mining1.57+0.03
Colorado Resources0.12+0.015
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.225+0.005

 
24130


24200

FEATURED Property
1888768311 170 Silver Lode Lane
2 bedrooms 2 baths
$449,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_



24111




Member of BC Press Council


23911