Sunday, November 23rd1.9°C
22246
23371

Holidays, fiscal cliff drive Loonie

TORONTO - The Canadian dollar was up slightly on Monday morning as financial markets prepared for the Christmas holiday.

The loonie was at 100.77 cents US, up 0.11 of a cent shortly before markets opened. The currency will trade in a shortened session ending at 12 noon ET.

Key U.S. lawmakers are already predicting that much of their holiday season will be spent in Washington, D.C., as they seek to bridge a gap between the Republican-dominated lower house and the White House.

A deal must be reached if the United States is to avoid going over the so-called fiscal cliff, which would involve the automatic imposition of hundreds of billions of dollars in spending cuts and tax increases that could plunge the world's largest economy back into recession and depress economies around the world.

President Barack Obama said Friday that he is "ready and willing" to get a big package done to deal with the fiscal cliff, adding there's no reason not to protect middle-class Americans from tax increases.

In commodities, the January crude contract on the New York Mercantile Exchange slid 17 cents to US$88.49 a barrel.

March copper was up 1.5 cents at US$3.55 a pound. February bullion added $2.20 to US$1,662.30 an ounce.

The Canadian Press


Read more Business News

24035


Recent Trending




Today's Market
S&P TSX15111.13+35.95
S&P CDNX789.135.56
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8901-0.0002
Gold1201.50+10.60
Oil76.72+0.87
Lumber331.50+4.50
Natural Gas4.236-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
23744


23015

FEATURED Property
21295781862 Carruthers Street
4 bedrooms 2 baths
$424,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24156

24119


Member of BC Press Council


23646