National

Canadian Dollar Hits 80-Cent Us Mark After North American Markets Open

Darpan News Desk The Canadian Press, 29 Apr, 2016 11:22 AM

TORONTO — The Canadian dollar hit the 80-cent US mark today, signalling a remarkable turnaround for the currency this year.

The loonie reached the level shortly after North American stock markets opened for trading before pulling back.

It was up 0.16 of a cent at 79.85 cents US in late-morning trading.

The last time the loonie closed above the 80-cent US level was on June 30, 2015, when it settled at 80.06 cents US.

In January, the Canadian dollar was trading around the 68-cent US mark, but it has since been aided by weakness in the greenback.

The jump came as the S&P/TSX composite index was up 49.51 points to 13,935.94, while the June contract for benchmark North American crude oil was trading at US$46.21, an 18-cent lift.

Earlier, Statistics Canada reported that the economy contracted by 0.1 per cent in February, the first monthly decline since September, though that was in line with expectations.

New York was in the red, with the S&P 500 down 12.91 points to 2,062.90, the Dow Jones industrial average sliding 103.63 points to 17,727.13 and the Nasdaq composite falling 35.57 points to 4,779.52.

June natural gas rose three cents to $2.10 per mmBtu, while June gold gained US$28.40 at US$1,294.80.

Prev Next

MORE National ARTICLES

Tata Steel To Sell U.K. Plants: Crisis As Threat Of 40000 Job Losses Looms

Prime Minister David Cameron held a crisis meeting at 10 Downing St., and said the government would do "everything it can" to keep steelmaking in Britain.

Tata Steel To Sell U.K. Plants: Crisis As Threat Of 40000 Job Losses Looms

Winnipeg Man Creates Social Media Accounts With Real Police Officer's Name, Busted

Police say they received multiple complaints from across North America about a police officer inappropriately using social media and other online forums.

Winnipeg Man Creates Social Media Accounts With Real Police Officer's Name, Busted

Aggravated Sex-Assault Conviction Upheld For Ottawa Man Who Hid HIV-Positive Status

In a ruling this week, Ontario's top court upheld the December 2012 jury conviction against Steven Boone, who argued the complainants would have had sex with him anyway.

Aggravated Sex-Assault Conviction Upheld For Ottawa Man Who Hid HIV-Positive Status

Heather Rankin Goes Solo — And Enlists Rapper For Remake Of Tears For Fears Hit

It's an unlikely match — she's a petite traditional singer from small-town Cape Breton with tidy hair, and he's a sneaker-clad emcee who dons backwards hats and spits rhymes about his gritty Halifax suburb.

Heather Rankin Goes Solo — And Enlists Rapper For Remake Of Tears For Fears Hit

Nature Of Policing Makes It Ripe For Unprofessional Behaviour: Canada's Top Mountie Says

RCMP Commissioner Bob Paulson told members of the Vancouver Board of Trade on Thursday that harassment and bullying in the workplace is unacceptable.

Nature Of Policing Makes It Ripe For Unprofessional Behaviour: Canada's Top Mountie Says

Newfoundlanders Say Next Supreme Court Justice Should Come From Their Province

The Supreme Court of Canada will soon have a vacancy, and the president of the Law Society of Newfoundland and Labrador says it's time the new justice came from her province.