Loonie zips above 75 cents US, major stock indexes advance moderately

TORONTO -- The Canadian dollar zipped back above 75 cents US this morning, gaining more than half a cent.

The loonie was at 75.23 cents US about an hour after the Bank of Canada announced its key interest rate will remain at 0.5 per cent.

See Full Article

The currency had been about even with the previous close of 74.54 cents US shortly before the central bank's announcement.

Meanwhile, the Toronto Stock Exchange and major U.S. markets were moderately positive this morning.

The S&P/TSX composite index was up 84.97 points or 0.6 per cent at 13,396.02 after 90 minutes of trading.

The Dow Jones industrial average was up 22.16 points or 0.1 per cent at 16,986.26, the broader S&P 500 composite index advanced 5.06 points or 0.3 per cent to 1,984.32 and the Nasdaq composite gained 5.91 points or 0.1 per cent to 4,654.73.

The April crude contract was up $1.50 at US$38 per barrel, and April natural gas was up 4.6 cents at US$1.76 per mmBtu.

The April gold contract fell $8.80 to US$1,254.10 an ounce and May copper contracts rose three cents to US$2.25 a pound.



Advertisements

Latest Economic News

  • China appeals to U.S. to stop disrupting acquisitions

    Economic CTV News
    BEIJING -- China has urged Washington to stop disrupting its foreign corporate acquisitions after President Barack Obama blocked the purchase of a German maker of semiconductor manufacturing equipment as a security risk. The proposed acquisition of Aixtron SE by China's Fujian Grand Chip was "pure market behaviour," a foreign ministry spokesman, Lu Kang, said Monday. Source
  • Families to spend more on groceries, restaurants in 2017: report

    Economic CTV News
    TORONTO - The typical Canadian family will spend up to $420 more on groceries and dining out next year, getting little relief from a recent drop in the cost of food, suggests a new report released Monday. Source
  • Notley aims to sell public on pipeline in B.C. in wake of protests

    Economic CTV News
    VANCOUVER - Some observers say Alberta's premier will have a difficult job trying to convince British Columbians to support a controversial pipeline project between the provinces. Rachel Notley is in B.C. for two days speaking with various media outlets about the Trans Mountain pipeline expansion project, which received federal approval last week. Source
  • Oil industry says carbon pricing coming, pump revenues back into cleaner tech

    Economic CTV News
    OTTAWA -- Canada's petroleum industry lobby group told the federal government this summer that carbon tax revenues from oil and gas should be pumped back into the industry in order to "not only preserve, but enhance" the sector. Source
  • Wages, full-time work sliding for young Canadians, StatsCan says

    Economic CBC News
    Unemployment rates among young Canadians have held relatively steady when compared with the mid-1970s, but the proportion of full-time or permanent jobs has changed sharply over that time, says Statistics Canada. In a study released Monday that looks at changes in the youth labour market from 1976 to 2015, Statistics Canada said the unemployment rate for the 15 to 24 age group averaged 13.2 per cent in 2015, slightly higher than the rate of 12.4 per cent seen in 1976. Source
  • Federal, Ontario governments talking 'investments' with Canada's big automakers

    Economic CTV News
    OTTAWA - The federal and Ontario governments are actively discussing major investments in the big automakers. Following the recent conclusion of labour negotiations, the auto companies are now in talks with the governments about investment opportunities in a sector that is a critical component of the Ontario and Canadian economies. Source
  • Postal workers ratify agreement reached last summer with Canada Post

    Economic CTV News
    MONTREAL -- A union spokeswoman says members of the Canadian Union of Postal Workers have ratified the tentative agreement reached last summer with Canada Post. Lise-Lyne Gelineau, president of the union's Montreal section, tells The Canadian Press rural and suburban mail carriers voted 55 per cent in favour of the new contract, while urban postal workers voted 63 per cent in favour. Source
  • Global trade more important than ever, Chrystia Freeland tells Toronto audience

    Economic CBC News
    Ottawa is more in favour than ever of global trade and signing free trade amendments, despite recent moves toward protectionism in other countries, International Trade Minister Chrystia Freeland told a Toronto business audience on Monday. Speaking to the Toronto Board of Trade at a luncheon, Freeland said is "so proud" to be representing Canada on the world stage, because it is "the country that is most clearly bucking the trend" toward protectionism and closed borders. Source
  • Trump not saying what he'll do about Dakota Access pipeline

    Economic CTV News
    CANNON BALL, N.D. -- Protesters who celebrated a major victory in their push to reroute the Dakota Access oil pipeline vowed to remain camped on federal land as they wait to find out whether President-elect Donald Trump might seek to overturn a decision that delayed the $3.8 billion project. Source
  • Electric vehicle charging stations coming to 25 Ontario Canadian Tire locations

    Economic CTV News
    ETOBICOKE, Ont. - Electric vehicle charging stations are being added to 25 Canadian Tire Gas+ locations across Ontario. AddEnergie Technologies says the stations, which start rolling out early next year, join the 2,500 stations along its FLO Canadian charging network. Source