Saturday, July 4th15.6°C
26932
26754

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

26908


Recent Trending




Today's Market
S&P TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7955-0.0018
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 





FEATURED Property
22609933469 Silverberry
3 bedrooms 2 baths
$479,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_



26370




Member of BC Press Council


26706