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
- Explosion in New York CityWorld - 11:12 am
- Creating electricity out of organic wasteBusiness - 12:50 pm
- Snow pack level checkVernon / N. Okanagan - 11:08 am
- Rocky the dog loves to get stonedKamloops - 10:44 am
|QHR Technologies Inc||1.24||0.00|
|Anavex Life Sciences||0.45||-0.02|
|Copper Mountain Mining||1.97||-0.06|
|Sunrise Resources Ltd||0.03||-0.005|
|Mission Ready Services||0.29||+0.015|
Big Picture Geopolitical risk remains at the fore; Fluid situation in Ukraine suggests need for vigilance The S&P500 remains close to a record level as better than expected February jobs data in ...
How will you pay for this today? Maybe it’s time to change the way you answer this common checkout question.With more payment options than ever, consumers can find easy ways to save money, simpl...
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...