In commodity markets, the January contract for benchmark U.S. crude rose 17 cents to settle at US$43.04 a barrel in electronic trading, while January natural gas fell 2.5 cents to US$2.299 per mmBtu and December gold fell $3.80 to US$1,070 an ounce.
“Although Canada won't know the exact fiscal plans of the newly elected government until a budget is tabled, the platform on which the party ran indicates that a modest dose of stimulus, worth a bit more than 0.5 per cent of GDP is on the way,” CIBC ...
The Canadian dollar tumbled to a six-week low against the U.S. dollar, pressured by fresh losses for crude oil, as concern about global growth lingered even as European Central Bank President Mario Draghi kept the door open to further stimulus.
Oil fell below $40 for the first time since August on Wednesday, dragging the Canadian dollar lower. U.S. data from the Energy Information Administration showed crude stocks in storage at an 80-year high.