Business
Canadian dollar makes a move
Sep 6, 2012 / 6:48 am
The Canadian dollar was higher Thursday after the European Central Bank announced a bond buying program to help alleviate the high borrowing costs of the most vulnerable members of the eurozone, including Spain and Italy.
The loonie rose 0.45 of a cent to 101.37 cents US after ECB president Mario Draghi announced a program called Monetary Outright Transactions, which will see the ECB buy up sovereign bonds on the secondary bond market, where previously issued securities are traded.
Draghi said the program will have no set limit and be a "fully effective backstop."
But the program comes with strict conditions, countries that want the ECB to buy their bonds must first officially ask for help from Europe's bailout funds and agree to "strict and effective" budget policy conditions.
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| Today's Market | ||
| S&P TSX | 12268.29 | -99.17 |
| S&P CDNX | 924.25 | -5.74 |
| DJIA | 15112.19 | -206.04 |
| Nasdaq | 3423.555 | 0.00 |
| S&P 500 | 1628.93 | -22.88 |
| CDN Dollar | 0.9667 | N/A |
| Gold | 1296.80 | -76.8999 |
| Oil | 96.06 | -2.18 |
| Lumber | 285.80 | +4.30 |
| Natural Gas | 3.94 | -0.023 |
| Okanagan Companies | ||
| Sun Rype | 6.20 | 0.00 |
| Pacific Safety | 0.045 | -0.01 |
| Knighthawk | 0.02 | 0.00 |
| QHR Technologies Inc | 0.64 | +0.03 |
| Cantex | 0.18 | +0.125 |
| Anavex Life Sciences | 0.695 | 0.00 |
| Metalex Ventures | 0.055 | -0.005 |
| Russel Metals | 25.83 | +0.21 |
| Copper Mountain Mining | 1.73 | -0.06 |
| Colorado Resources | 0.78 | +0.05 |
| ReliaBrand Inc | 0.13 | 0.00 |
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