Canadian dollar falls below 69.5 cents US, oil up, stock markets waver

TORONTO -- The Canadian dollar hovered around 69.5 cents cents US Thursday as stock markets underwent a volatile morning session.

See Full Article

The loonie was at 69.57 cents US shortly before noon but had been as low as at 69.46 cents at midmorning.The currency finished Wednesday at 69.71 cents U.S., the first close below 70 cents U.S. since April 2003.

Toronto Stock Exchange's S&P/TSX composite index was on a see-saw. It was down 24.43 points at 12,145.98 after nearly two hours of trading but had twice been in positive territory. On Wednesday, it lost 203.49 points, marking the 10th losing day since the Christmas break.

The Dow Jones average of 30 stocks was similarly volatile. It was up 174.34 points points at 16,298.75 but had been in the red, the broader S&P 500 index advanced 15.6 points at 1,905.91 and the Nasdaq 100 gained 27.61 points to 4,210.72.

Most major European indexes were down and Asian markets closed lower with the exception of Shanghai, which rose nearly 2.2 per cent.

On the commodity markets, the February gold contract was down $4.20 at US$1,082.90 an ounce and the February crude contract was up $1.13 at US$31.61 per barrel.



Advertisements

Latest Economic News

  • Jimmy Choo is on the market

    Economic CBC News
    A Jimmy Choo shoe is seen in a shop in downtown Rome in March 2016 file photo. (Max Rossi/Reuters) British luxury retailer Jimmy Choo is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Monday. Source
  • Asian stocks mixed as investors examine French election outcome

    Economic CTV News
    TOKYO -- Asian stocks were mixed Monday as investors weighed the results of the first round of the French presidential election. KEEPING SCORE: Japan's benchmark Nikkei 225 rose 1.3 per cent in morning trading to 18,870.24. Source
  • Oregon teens sells $1 million in custom socks

    Economic CTV News
    SHERWOOD, Ore. -- Seventeen-year-old Oregon resident Brennan Agranoff spends his days going to school, doing chores and running his custom-design sock business. It's no simple hobby: Agranoff is the founder and CEO of HoopSwagg, and he has already sold $1 million in custom socks. Source
  • Oregon teen sells $1 million in custom socks

    Economic CTV News
    SHERWOOD, Ore. -- Seventeen-year-old Oregon resident Brennan Agranoff spends his days going to school, doing chores and running his custom-design sock business. It's no simple hobby: Agranoff is the founder and CEO of HoopSwagg, and he has already sold $1 million in custom socks. Source
  • The sad saga of North Korea's ATMs

    Economic CTV News
    PYONGYANG, North Korea -- No modern airport terminal is complete without an ATM, and Pyongyang's now has two. But they don't work -- because of new Chinese sanctions, according to bank officials -- and it's not clear when they will. Source
  • Real estate reality check: CBC's Marketplace consumer cheat sheet

    Economic CBC News
    Miss something this week? Here's the consumer news you need to know from CBC's Marketplace. Get this in your inbox every Friday. Sign up here. House cooling Time for some cold water on that hot southern Ontario real estate market? Here's how the province is proposing to rein in the madness. Source
  • Birthing April the Giraffe becomes cash cow for tiny U.S. zoo

    Economic CTV News
    April the giraffe has become a cash cow for a tiny zoo in rural upstate New York, thanks to a livestream of her pregnancy and birth that has enthralled viewers around the world. Owners of the Animal Adventure Park won't say exactly how much they've pulled in from all the April-related ventures, but marketing experts who specialize in viral internet campaigns conservatively estimate the haul in the hundreds of thousands of dollars. Source
  • Despite special regulations, edible entrepreneurs hope to take bite of Canada's marijuana market

    Economic CBC News
    Amid all the uncertainty about the federal government's ?plans to legalize marijuana by mid-2018, a culinary mystery stands out: How will marijuana-infused food products, commonly called "edibles," fit into the legal regime? Ottawa has signalled that regulations governing the sales of edibles won't be ready by the time recreational marijuana becomes legal. Source
  • 'Vital for tenants' or 'textbook' bad policy: How rent control works in NYC

    Economic CBC News
    Before Ontario's provincial government announced its plans to expand rent control, some economists were already sounding alarm bells about imposing the controversial policy. In response to some Toronto tenants who say their rents have doubled, the government on Thursday unveiled its Fair Housing Plan. Source
  • What we can learn from New York's rent control regime

    Economic CBC News
    Before Ontario's provincial government announced its plans to expand rent control, some economists were already sounding alarm bells about imposing the controversial policy. In response to some Toronto tenants who say their rents have doubled, the government on Thursday unveiled its Fair Housing Plan. Source