Loonie edges down, North American markets fall

TORONTO -- The Canadian dollar gave up its early gains and fell moderately Monday morning as North American stock markets fell.

See Full Article

The loonie was trading at 72.72 cents US, down 0.05 of a U.S. cent as the S&P/TSX composite index increased its loss to 116.41 points to 12,673.54, after dropping nearly 227 points on Friday.

The major U.S. indexes also turned negative after starting the day up slightly. The Dow Jones average of 30 stocks was down 51.51 points at 17,213.70, the broader S&P 500 index fell 7.27 points to 2,005.10 and the Nasdaq lost 23.19 points to 4,910.28.

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

The January crude contract was down 17 cents at US$35.43 a barrel Monday morning. The February gold contract fell $6.80 to US$1,068.90 an ounce and the January contract for natural gas was down 12 cents at US$1.87.



Advertisements

Latest Economic News

  • Wal-Mart to add about 10,000 jobs in the U.S.

    Economic Toronto Sun
    NEW YORK — Wal-Mart plans to add about 10,000 retail jobs in the U.S. as it opens new stores and expands existing locations. The world’s biggest retailer said Tuesday that there will also be about 24,000 construction jobs as well. Source
  • McDonald's Canada warns all menu products may come in contact with nuts

    Economic CTV News
    TORONTO -- McDonald's Canada has started serving its first product containing peanuts or tree nuts that do not come in an individual package, causing concerns for customers with severe nut allergies. McDonald's says in a statement on its website that its new Skor McFlurry contains choppped almonds in the pieces of chocolate bar used to make the treat. Source
  • Air Canada software outage halts check-ins

    Economic CBC News
    Air Canada is experiencing software problems that have halted all computerized checking-in at airports across the country. The outage Tuesday emerged at around 11 a.m. ET and made it impossible to check in or board planes via the airline's check-in system at any airports in Canada. Source
  • Air Canada software outage briefly halts computerized check-ins

    Economic CBC News
    Air Canada is experiencing software problems that have halted all computerized checking-in at airports across the country. The outage Tuesday emerged at around 11 a.m. ET and made it impossible to check in or board planes via the airline's check-in system at any airports in Canada. Source
  • China's Xi defends global trade at World Economic Forum in Davos

    Economic CBC News
    Chinese President Xi Jinping on Tuesday trumpeted the need for free trade and urged the world to "say no to protectionism," delivering a strong rebuke to isolationist tendencies that helped fuel Donald Trump's presidential election victory. Source
  • CMHC to hike mortgage insurance premiums by an average of $5 a month

    Economic CBC News
    The Canada Mortgage and Housing Corporation will charge borrowers a few dollars more every month to insure their mortgages starting in March. The housing agency made the announcement in a release Tuesday. Starting March 17, CMHC will charge mortgage holders slightly more every month to insure their loans. Source
  • Silk, steam and slogans: Inside a North Korean factory

    Economic CTV News
    PYONGYANG, Korea, Democratic People's Republic Of -- As the morning light poured through large windows, women wearing olive-colored overalls, pink aprons and headscarves stood at stations where silkworms were being boiled. Some used their bare hands to pull silk thread from the boilers and winced as the steam rose toward their faces. Source
  • CMHC to raise mortgage insurance premiums for homebuyers as of March 17

    Economic CTV News
    OTTAWA - Canada Mortgage and Housing Corp. is raising the cost of mortgage loan insurance effective March 17. The Crown corporation estimates the increases will add about $5 to a monthly mortgage payment for its average homebuyer. Source
  • Here's why your mortgage payments will rise as of March 17

    Economic CTV News
    Canada's federal housing agency is hiking the cost of mortgage loan insurance for homebuyers starting March 17, as part of new regulatory requirements requiring it to hold more capital to offset risks in the country's red-hot real estate market. Source
  • Rolls Royce agrees to pay $808 million on bribery claims

    Economic CTV News
    LONDON - Jet engine maker Rolls Royce has agreed to pay 671 million pounds ($808 million) to settle bribery and corruption charges brought by authorities in Britain, the U.S. and Brazil. A U.K. High Court judge will examine the deferred prosecution agreement during a public hearing on Tuesday. Source