Oil price weakens, loonie dips after slight improvement on Wednesday

TORONTO -- The Canadian dollar weakened Thursday morning as a benchmark crude traded below US$37 a barrel.

The loonie traded at 73.70 cents US shortly before North American stock markets opened, down 0.02 of a cent.

See Full Article

It had risen 0.12 on Wednesday but remains near an 11-year low of 73.41 set on Tuesday.

The January futures contract for crude oil was down 41 cents at US$36.75 per barrel, contributing to the loonie's weakness.

The Dow Jones futures contract average of 30 stocks was up 19 points at 17,394.0, the S&P 500 index was unchanged at 2,034.2 points and the Nasdaq futures gained 11.7 points to 4,621.5.

On the commodity markets, the February gold contract fell $2.50 to US$1,074.00 an ounce, and the January contract for natural gas was unchanged at US$2.06.

On Wednesday, the Toronto Stock Exchange's S&P/TSX index rose 15.12 points to close at 12,937.59, after losing 436 points over the previous two sessions.



Advertisements

Latest Economic News

  • Ivanka Trump shoes factory has long hours, low pay and abuse

    Economic CTV News
    GANZHOU, China -- A worker with blood dripping from his head marked a low point in the tense, grinding life at a southeastern China factory used by Ivanka Trump and other fashion brands. An angry manager had hit him with the sharp end of a high-heeled shoe. Source
  • Facebook hits 2 billion users, doubling in size since 2012

    Economic CBC News
    Facebook Inc. said on Tuesday that 2 billion people are regularly using its flagship service, marching past another milestone in its growth from a college curiosity in the United States to the world's largest social media network. Source
  • Royal Bank to repay investors $21.8M for mistakenly charged investment fees

    Economic CTV News
    TORONTO - The Royal Bank of Canada (TSX:RY) has agreed to a deal with Ontario's securities watchdog to repay $21.8 million to clients who were mistakenly charged some investment fees. The Ontario Securities Commission approved Tuesday the no-contest settlement agreement with RBC Dominion Securities Inc. Source
  • Royal Bank to pay back $22M in investment fees it overcharged

    Economic CBC News
    The Ontario Securities Commission says the settlement comes after a compliance review in 2015 found the bank had overcharged some of its customers 'excess fees,' for their investments. (Mark Blinch/Reuters) The Royal Bank of Canada will pay almost $22 million in compensation to clients who were charged excess fees on some mutual funds and investments products. Source
  • Ransomware is infecting computers all across Europe in another major attack

    Economic CBC News
    A major ransomware attack on Tuesday hit computers at Russia's biggest oil company, the country's banks, Ukraine's international airport as well as global shipping firm A.P. Moller-Maersk. Moscow-based cybersecurity firm Group IB said hackers had exploited code developed by the U.S. Source
  • World's first ATM turns to gold on 50th birthday

    Economic CBC News
    Five decades since it heralded a transformation in the way people obtained and used cash, the world's first ATM was turned into gold for celebrations of its fiftieth anniversary. The brainchild of Scottish inventor John Shepherd-Barron, the first ATM (automated teller machine) was opened on June 27, 1967 at a branch of Barclays bank in Enfield, north London, the first of six cash dispensers commissioned by the bank. Source
  • Bring the brew to you: Beer Store launches home delivery in Ottawa, Scarborough

    Economic CTV News
    TORONTO - The Beer Store is now offering home delivery in two Ontario communities. Customers in Ottawa and the Toronto suburb of Scarborough can now place an order online and have their purchases delivered within two hours. Source
  • Uber makes it easier to arrange trips for other riders

    Economic CTV News
    SAN FRANCISCO -- Uber's ride-hailing app is making it easier for its users to set up trips for seniors and others who may not know their way around a smartphone but still need help getting around town. Source
  • No security risks in Chinese takeover of Canadian satellite firm: Trudeau

    Economic CBC News
    ?Prime Minister Justin Trudeau is making his strongest defence yet of his government's decision to allow a Chinese telecom giant to take over a Canadian satellite technology company. Trudeau says an initial government review of the takeover, required under federal law, unearthed no significant national security risk and didn't require any further reviews, allowing the deal to be allowed to proceed. Source
  • 'Trump' dumped: Toronto condo and hotel tower to ditch Trump name

    Economic CBC News
    The new owners of the Trump International Hotel and Tower Toronto have reached a deal that will see the Trump name removed from the property. JCF Capital says it has reached an agreement with Trump Hotels to buy out the management contracts for the property for an undisclosed amount. Source