Monday, September 22nd15.7°C
23284
22754

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




Recent Trending




Today's Market
S&P TSX15133.40-131.949
S&P CDNX936.42-18.64
DJIA17203.93-75.81
Nasdaq4520.419-59.369
S&P 5001994.10-16.30
CDN Dollar0.9078-0.0046
Gold1218.90+2.30
Oil91.47-0.94
Lumber326.70-2.30
Natural Gas3.885-0.018

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.32-0.05
Cantex0.05-0.01
Anavex Life Sciences0.22-0.003
Metalex Ventures0.05-0.01
Russel Metals35.615-0.135
Copper Mountain Mining2.40-0.26
Colorado Resources0.175+0.01
ReliaBrand Inc0.0163-0.0086
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.275-0.015

 



23226

FEATURED Property
20595161190 Guisachan Road
2 bedrooms 1 baths
$339,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_



23448

23499


Member of BC Press Council


22707