Wednesday, July 30th15.5°C
22568
22455

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

22704


Recent Trending




Today's Market
S&P TSX15446.55+1.33
S&P CDNX1016.50-3.35
DJIA16912.11-70.48
Nasdaq4442.698-2.211
S&P 5001969.95-8.96
CDN Dollar0.9201-0.0016
Gold1310.00+6.70
Oil101.47+0.50
Lumber322.20-0.80
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.185-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.20+0.05
Cantex0.085+0.02
Anavex Life Sciences0.2675+0.0025
Metalex Ventures0.085+0.005
Russel Metals35.29+0.14
Copper Mountain Mining2.86-0.11
Colorado Resources0.2250.00
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.035+0.015
Mission Ready Services0.155-0.035

 





FEATURED Property
1264528Edgewood
1 bedrooms 1 baths
$275,000
more details
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22707