Friday, May 22nd16.7°C
26383
26319

Canadian dollar at July, 2012 levels

The Canadian dollar was lower for a sixth session Monday amid concerns about weakening economic conditions.

The loonie fell 0.18 of a cent to 97.78 cents US, its lowest level since early July 2012.

February has not been kind to the loonie, which is down about 2.5 US cents for the month on a combination of factors.

These include sliding commodities, worries about the strength of the Canadian housing sector and the price differential between benchmark Brent crude and Western Canadian Select from the oilsands.

Traders are also concerned about U.S. economic strength, particularly as a March 1 deadline looms when more than US$85 billion in across the board spending cuts will be triggered.

Also, the U.S. dollar gained strength last week amid concerns the U.S. Federal Reserve may abandon its easy monetary policy sooner than many analysts have been predicting.

Finally, the loonie was hit at the end of last week as lower than expected retail sales for December pointed to a weakening economy while tame inflation figures indicated the Bank of Canada won't be raising rates any time soon.

The Canadian Press


Read more Business News

26401


Recent Trending




Today's Market
S&P TSX15187.30-16.31
S&P CDNX701.12+0.61
DJIA18232.05-53.69
Nasdaq5091.47+0.68
S&P 5002128.44-2.38
CDN Dollar0.8141-0.0054
Gold1206.00+1.60
Oil57.45-1.98
Lumber272.00+2.40
Natural Gas2.919-0.030

 
Okanagan Companies
Pacific Safety0.15+0.02
Knighthawk0.010.00
QHR Technologies Inc1.46+0.01
Cantex0.03-0.01
Anavex Life Sciences0.3845+0.0125
Metalex Ventures0.09+0.01
Russel Metals25.49-0.33
Copper Mountain Mining1.38-0.03
Colorado Resources0.10-0.00
ReliaBrand Inc0.0045-0.0052
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26416

FEATURED Property
2282260367 Holbrook RD W
4 bedrooms 2 baths
$309,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_



26418

25482


Member of BC Press Council


24843