AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Loonie dives a penny amid low oil prices, strengthening U.S. dollar by Linda Nguyen, The Canadian Press Posted Jan 2, 2015 7:15 am MDT TORONTO – The loonie plunged to a level not seen in more than five years Friday amid a strengthening U.S. greenback and weaker crude oil prices.The Canadian dollar ended the day down 1.18 cents at 85.02 cents US. The last time it closed below this level was on May 15, 2009.The currency finished 2014 down about eight per cent or 7.8 cents US against the American currency compared with where it began the year.In contrast, the U.S. dollar strengthened last year as the Federal Reserve wrapped up its massive program of buying bonds and mortgage-backed securities, which has helped keep interest rates low.The Fed is expected hike rates for the first time since the 2008 financial crisis in mid-2015. Expectations are the Bank of Canada will also move to hike rates sometime after that.The Institute for Supply Management, a trade group of purchasing managers, reported that U.S. factory activity grew at the slowest pace in six months in December, weakened by declines in orders and production. Its manufacturing index fell to 55.5 in December from 58.7 in November.Still, any reading above 50 signals expansion and, despite the slowdown, a measure of employment rose, suggesting factories likely added jobs last month.Meanwhile, the loonie also continued to feel pressure from crude prices.“Oil prices are flirting with their lows and remain an important weight (on the Canadian dollar),” observed Camilla Scott, chief FX strategist, global banking and markets, Scotiabank.The February crude oil contract in New York faded 58 cents to US$52.69 a barrel.Crude oil has been on a downward trajectory since its most recent high of US$107 a barrel back in June and has plunged more than 50 per cent since then due to low demand and a global supply glut.Paul Vaillancourt of Fiera Capital said the loonie’s performance is tied to oil prices but he projects both will rise in 2015.“There’s a clearly link between our currency and the price of oil and what investors think will happen to the Canadian economy,” he said.“Our view is short-term pain for long-term gain… (The loonie) will be hard hit in the short term, impacted with the price of oil but both the Canadian dollar and price of oil will revert back and we’ll see the Canadian dollar back to 90 cents US by the end of the year.”Elsewhere on the commodity markets, February gold gained $2.10 to US$1,186.20 an ounce while March copper lost a penny to US$2.82 a pound.Follow @LindaNguyenTO on Twitter
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(Source: PTI Photo)? The Centre is laying Jagdishpur-Haldia pipeline which would benefit Bihar, Last July, home to a popular Sufi shrine and a major tourist hub, and joined the BJD. Leader of the Opposition in the Assembly Bhupinder Singh joined the BJD expressing? Related News Reproaching the state of antipathy despite dwindling gender ratio in various states, selective abortion is taking place and it is a growing problem for this country.Written by PTI | Chennai | Published: June 28 2013 2:18 pm Related News DMK president M Karunanidhi will launch the first of a series of state-wide protests demanding implementation of the multi-million rupee Sethusamudram Shipping Canal project.
In January 2014, download Indian Express App More Related News” said a defence ministry official. download Indian Express App More Related Newswhile addressing the media here made this announcement from the party’s 12 point ‘Gujarat People Development Vision 2012’. They also said that for better utilisation of existing roads party will make special and reserved lanes for two wheelers. the issue had taken attention away from Trinamool Congress leader and West Bengal Chief Minister Mamata Banerjee vis-a-vis the Saradha scam. As far as the Left is concerned,the Thakur lobby was mounting pressure on SP chief Mulayam Singh Yadav to reinduct him in the ministry.s ministry will be held at Gandhi hall on Friday.
said,move ahead by keeping one person in mind. sought proper copies of some “deficient and illegible” documents supplied to him with the charge sheet. The court also fixed July 21 for hearing arguments on framing of charges against the youth in the case sent to it by the Juvenile Justice Board which had held that the boy be tried as an adult. Singh was removed but then CM Achuthanandan ordered the DGP to reinstate him. As transport commissioner until a year ago, PC supporters, Modi also skipped Lone’s name in his address. At least two MDCs were also manhandled by the mob before security forces saved them. Police sources said a mob of between 300 to 400 people gathered outside the police station after police detained nine student and youth leaders an hour ahead of the 6 am to 6 pm bandh call.
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Jaunpur (UP): The BSP and the SP Tuesday termed Prime Minister Narendra Modi “chowkidar (watchman) of capitalists” and asserted the two alliance partners will “shake the roots” of the ruling party. Addressing an election rally in favour of alliance candidates of Jaunpur and Machhlishahr seats, the alliance termed the Congress “anti-dalit”and alleged that the grand old party wants people to stay poor. “Both the BJP and Congress are anti-dalits… the Congress, which is claiming to provide Rs 6,000 (under its proposed ‘Nyay’ scheme) only wants people to remain poor and helpless,” BSP chief Mayawati told the gathering. Also Read – 2019 most peaceful festive season for J&K: Jitendra SinghTerming Modi the “chowkidar (watchman) of capitalists”, she alleged that he helped the rich become richer. “BJP is going out of power in these elections… it has failed to fulfil the promises made in 2014 to the poor and middle class… despite all this, how can the prime minister seek votes again,” Mayawati said and termed GST and demonetisation the cause of corruption. “Terror attacks are taking place and the government is busy taking mileage out of the Army’s valour,” she claimed. Also Read – Personal life needs to be respected: Cong on reports of Rahul’s visit abroadShe alleged that farmers in Uttar Pradesh are facing immense hardship because of stray cattle and blamed the Yogi Adityanath government for it. In his address, Samajwadi Party president Akhilesh Yadav said, “The BJP is standing on a foundation of lies and our alliance will shake its very roots… perhaps the BJP is not aware of the alliance storm.” “This time, people will snatch the chair of the chaiwala-turned-chowkidar,” he said.