Loonie edges up but still below 73 cents US

TORONTO -- The Canadian dollar was up moderately early Monday but remained below 73 cents US.

The loonie was trading at 72.84 cents US, up 0.07 of a U.S.

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The low price of oil was a major factor that the Canadian dollar began trading below 73 cents U.S. on Friday for the first time since mid-2004.

The January crude contract was down 75 cents at US$34.87 a barrel early Monday. The February gold contract fell $4.70 to US$1,071.00 an ounce and the January contract for natural gas was down 11 cents at US$1.88.

On Monday, the Dow Jones futures were down 34 points at 17,145.0 before North American stock markets opened. The S&P 500 futures declined two points to 1,999.2 and the Nasdaq futures lost 11 points to 4,521.5.

On Friday, the S&P/TSX composite lost 226.64 points on Friday to settle at 12,789.95.



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