Tuesday, September 30th6.3°C
22738
22934

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

23489


Recent Trending




Today's Market
S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8924-0.0006
Gold1206.70-4.90
Oil90.16+0.40
Lumber333.20+0.30
Natural Gas4.126+0.005

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 





FEATURED Property
2075463662 Peridot Court
5 bedrooms 4 baths
$785,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_



23499




Member of BC Press Council


22632