Monday, August 3rd26.6°C
27107
22952

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.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17598.20-91.66
Nasdaq5115.38-12.90
S&P 5002098.04-5.80
CDN Dollar0.7600-0.0043
Gold1096.90+0.60
Oil45.73-1.80
Lumber259.40+7.30
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences1.13+0.22
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
1619790Loseth Road South
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_








Member of BC Press Council


25648