Canada's dollar breaks another 2003 record, U.S. index futures turn red

TORONTO -- The Canadian dollar traded below 69 cents US early Friday for the first time since 2003 as crude oil futures dropped below US$30 a barrel and overseas stock markets fell sharply.

See Full Article

The loonie traded as low as 68.74 cents US about five hours before the Toronto Stock Exchange opened at 9:30 a.m.. The dollar was higher at 8:30 a.m., at 69.05 cents US -- about 0.62 of a U.S. cent below the Thursday closing price.

Canada's dollar -- which hasn't been below 69 cents since April 2003 -- was also down Friday against the euro, British pound and Japanese yen.

On the commodity markets, February crude oil futures traded at US$29.35 a barrel at about 8:30 a.m. The falling price of crude -- from more than US$100 a barrel in the summer of 2014 -- has been a major reason for the loonie's fall.

With about one hour to go before regular trading on North American stock exchanges at 9:30 a.m., index futures were solidly negative: Dow Jones futures were down 303.0 points at 15,978.0, S&P 500 futures declined 35.25 points to 1,879.25 and the Nasdaq futures lost 86 points to 4,171.50.

Asian and European markets were also in the red. Shanghai's benchmark index closed down 3.55 per cent and smaller declines were shown in Tokyo, Hong Kong, London, and Paris.

On Thursday, the Toronto Stock Exchange's S&P/TSX index gained 165.62 points to close at 12,336.03, though it has still lost more than 900 points, or 7.1 per cent, since the Christmas break.



Advertisements

Latest Economic News

  • Online cannabis dispensaries join in on Black Friday sales

    Economic CTV News
    Online cannabis dispensaries are the latest to cash in on the holiday shopping frenzy, with some offering dramatic markdowns or novelty products as the season known for consumer spending gets underway. Several online cannabis stores are holding Black Friday sales for the first time this year in an effort to stay competitive and draw new customers in what they call an increasingly competitive market. Source
  • Why France hates Black Friday: 'I find it sad'

    Economic CTV News
    Having adopted hamburgers, Halloween and a host of English words, some in France are worried about the latest cultural import from America: the day of rampant consumerism known as Black Friday. Unheard of only a few years ago, the cut-price deals made the television news bulletins Friday as local retailers copied their American counterparts in trying to lure in shoppers ahead of the Christmas season. Source
  • Canadian operating profits top $100B amid financial sector strength

    Economic CTV News
    OTTAWA -- Statistics Canada says strong performance in the financial sector drove Canadian corporate operating profits to just over $100 billion in the third quarter, up 17.2 per cent from the same period last year. Source
  • WestJet launches new regional air service in Western Canada

    Economic CTV News
    CALGARY -- WestJet Airlines Ltd. (TSX:WJA) has introduced a new regional air service in Western Canada operating under a capacity purchase agreement with B.C.-based Pacific Coastal Airlines Ltd. WestJet Link will connect the Alberta communities of Lethbridge, Lloydminster and Medicine Hat and the B.C. Source
  • Aurora formally launches hostile takeover bid for CanniMed Therapeutics

    Economic CTV News
    TORONTO -- Aurora Cannabis Inc. formally launched its all-stock hostile takeover bid for CanniMed Therapeutics Friday, on the condition that the medical marijuana producer cancel its own planned acquisition of Newstrike Resources Ltd. The Vancouver-headquartered licensed marijuana company says in a statement it placed a newspaper ad for its offer to acquire all issued and outstanding shares for up to $24, and a takeover bid circular will be mailed to CanniMed's shareholders. Source
  • CEO Suzanne West vows to pursue greener path after oil firm splits with backers

    Economic CTV News
    CALGARY - One of the few female CEOs in the Canadian oilpatch says she has parted ways with her American financial backers and her Calgary company's oil and gas assets have been taken over by a newly-created entity. Source
  • Ontario gaming agency will expand online and mobile betting

    Economic CTV News
    TORONTO -- Think you know when U.S. President Donald Trump will be impeached? How about who the next James Bond will be? Or perhaps you have an inside track on the name of the next royal baby? Source
  • Aurora Cannabis launches hostile takeover bid for CanniMed Therapeutics

    Economic CBC News
    Aurora Cannabis Inc. formally launched its all-stock hostile takeover bid for CanniMed Therapeutics Friday, on the condition that the medical marijuana producer cancel its own planned acquisition of Newstrike Resources Ltd. The Vancouver-headquartered licensed marijuana company says in a statement it placed a newspaper ad for its offer, valued at $24 per share, and a takeover bid circular will be mailed to CanniMed's shareholders. Source
  • Aurora takeover bid 'makes no sense,' based on inflated share price: CanniMed

    Economic CBC News
    Aurora Cannabis Inc. formally launched its all-stock hostile takeover bid for CanniMed Therapeutics Friday, on the condition that the medical marijuana producer cancel its own planned acquisition of Newstrike Resources Ltd. The Vancouver-headquartered licensed marijuana company says in a statement it placed a newspaper ad for its offer, valued at $24 per share, and a takeover bid circular will be mailed to CanniMed's shareholders. Source
  • Amazon workers in Germany, Italy stage Black Friday strike

    Economic CTV News
    BERLIN -- Workers at a half dozen Amazon distribution centres in Germany and one in Italy walked off the job Friday, in a protest timed to coincide with "Black Friday" to demand better wages from the American online giant. Source