49366
47453
S&P/TSX
16114.03
+10.52
(0.07%)
S&P-CDNX
797.71
+6.16
(0.78%)
S&P-500
2664.11
+4.12
(0.15%)
NASDAQ
6862.32
-12.76
(-0.19%)
Dow
24504.80
+118.77
(0.49%)
Dollar
0.7776
+0.00073
(0.094%)
Oil
57.58
+0.44
(+0.77%)
Gold
1243.10
+1.40
(+0.11%)
Silver
15.705
+0.037
(+0.24%)


Loonie moves lower

The Canadian dollar drifted lower to another seven-month low Wednesday morning.

The loonie was down 0.26 of a cent to 98.57 cents US.

The dollar has fallen about two US cents since the start of the year centred on fears of massive U.S. government spending cuts, the housing market and oil prices.

There are worries about the looming sequester in the U.S. That is a huge package of across the board spending cuts worth US$85 billion that are set to take effect at the end of the month unless lawmakers can agree on other cuts that would be more selective.

It would cut a big chunk out of American economic growth, a worrisome prospect for a struggling economy.



More Business News

45352
Recent Trending
48950
Okanagan Oldies
48805
Castanet Proud Member of RTNDA Canada
48194
Press Room
49409