Stocks, oil and the Canadian dollar all climbed, as the weekend failure of oil producers to bolster crude prices faded. A lot of it has to do with the turn in a still-depressed oil price, having initially been hurt by the weekend meeting in Doha and ...
The Canadian dollar is inching ever closer to the 80-cent (U.S.) mark as oil prices rise again. The loonie traded in a wide range today, between 78.6 cents and 79.4 cents so far, amid an initial dip and rebound in crude.
The Canadian dollar is on the rebound, hitting its highest levels since last summer at just below 80 cents. It's a marked improvement from earlier this year when the loonie dipped below 70 cents for the first time in over a decade.
TORONTO - The Canadian dollar briefly touched the 80-cent US mark Friday morning before retreating, capping a remarkable rebound for the currency thanks to strengthening commodity prices and weakness in the greenback.
The losses on the stock market came as the Canadian dollar gained 0.01 of a cent at 78.93 cents US. On commodity markets, the June contract for benchmark North American oil gained two cents at US$43.75 per barrel.