Loonie continues to fall; lowest since '09
The Canadian dollar fell Tuesday, a day before the Bank of Canada was set to make its latest announcement on interest rates.
The loonie dipped 0.41 of a cent to 90.91 cents U.S.
Investors will be closely watching what the central bank will say Wednesday about interest rates and its neutral stance on the future direction of its key rate.
It has been a tough month so far for the loonie, which is down more than 2 1/2 cents US from the end of 2013, falling near levels that haven't been seen in more than four years.
The Canadian dollar has been supported by the BoC's dovish tone on interest rates and disappointing trade and employment data, but has faced pressure from an American currency.
The U.S. Federal Reserve has started to cut back on is monthly bond buyback program to $75 billion in January.
Meanwhile, commodities markets were still digesting data that showed a slowdown in the Chinese economy.
The world's second-largest economy reported Monday that its annualized growth rate was 7.7 per cent in the fourth quarter, down from the previous quarter's 7.8 per cent
Gold took back some of the gains it made Monday as February bullion dropped $14 to US$1,237.90 an ounce on the New York Mercantile Exchange.
The February crude oil contract moved up 15 cents to US$94.52 a barrel, while March copper was down three cents to US$3.32 a pound.
Read more Business News
- Coquihalla opensKamloops - 8:36 pm
- Fire destroys houseVernon / N. Okanagan - 3:05 pm
- Quad crash hospitalizes oneKelowna - 1:04 pm
- Teachers: 40 years of battlesBC - 7:46 am
|QHR Technologies Inc||1.19||0.00|
|Anavex Life Sciences||0.25||+0.01|
|Copper Mountain Mining||2.93||+0.02|
|Sunrise Resources Ltd||0.025||0.00|
|Mission Ready Services||0.245||-0.005|
Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....
Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...
There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...