Canadian dollar drops more than half a cent as oil trades below US$39 a barrel

mentalfloss

mentalfloss

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Jun 28, 2010
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Dat petros dollar at work again.

Isn't it great that we continued to subsidize this failing industry and made our entire economy dependent on it?


Canadian dollar drops more than half a cent as oil trades below US$39 a barrel

TORONTO - The Canadian dollar was down more than half a U.S. cent Monday morning as crude oil futures traded below US$39 a barrel.

The loonie traded at 74.21 cents US, after falling 0.55 from Friday's close.

The Dow Jones index futures were down 32 points at 17,787.0, theS&P 500 futures fell 1.9 points to 2,086.5 and the Nasdaq futures gained one point to 4,714.3.

On the commodity markets, the February gold contract fell $4.10 to US$1,080.00 an ounce, the January crude contract was down $1.14 at US$$38.83 per barrel and the January contract for natural gas was down six cents at US$2.13.

On Friday, Toronto's S&P/TSX composite index rose 34.10 points to close at 13,358.77, ending the week of trading at practically the same level it began.

Canadian dollar drops more than half a cent as oil trades below US$39 a barrel
 
MHz

MHz

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Are you suggesting we would be better off if we had never used any petroleum products. We would be better off today if we had never let DuPont make growing hemp illegal.
 
petros

petros

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The Liberal plan from the late 90s sucks? Did you prefer oil at overinflated prices? Natural prices are a failure? How is production? Do you still love Obama? Still wonder what a bloodless war looks like? Why did Martin kill auto parts the last hope for ON? Was being green and killing the forestry, pulp/paper, smelters, steel plants, chemical facilities and food processing which were the backbone of the Ontario economy worth it?

Where were you when all this went down? Skatboarding and getting high on Molly and meth?

MHz said:
Are you suggesting we would be better off if we had never used any petroleum products. We would be better off today if we had never let DuPont make growing hemp illegal.
Click to expand...

What would you eat?
 
B00Mer

B00Mer

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Our Petro Dollar is turning into the Peso...

I love all these idiots who say; "that will help manufacturing in Canada." LOL That ship has sailed, to China long ago.

All the low dollar is doing is creating inflation in Canada, and forcing Canadians to buy stuff in Canada vs shopping across the line.
 
MHz

MHz

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"forcing Canadians to buy stuff in Canada vs shopping across the line." Way to shoot yourself in the foot Bloomer as buying Canadian is a good thing.
 
petros

petros

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How are we doing against other currencies that aren't artificially inflated like the USD?

IdRatherBeSkiing said:
So what is Justine's fix for this?
Click to expand...

Continue on with the 20 year old plan to debottleneck eastern infrastructure and build a real infrastructure and ports in western canada to get eastern and western goods to 2 billions customers in Asia all funded by the second largest oil deposits on the planet.
 
petros

petros

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I have incentives. 122.9L or spend $3.15 bridge toll and drive 30km to Washington and fill up for 75 cents a L

$85 for a 70L fill up in Coquitlam or $52 fill up in Blaine? Tough decision.
 
A

AnnaG

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meh Damn people and their stupid bubbles. Bubbles are for children blowing soap.
 
Danbones

Danbones

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and now they find that bombing syria and lybia and iraq was about STEALING BILLIONS in oil
and laundering it all through Turkey and bought by the natos
and now people wonder why the price is so low
?
wow

the us just bombed a syrian army base
wankers
 
MHz

MHz

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B00Mer said:
The problem is, it's not "Canadian" it's Chinese imports.
Click to expand...
I agree that will be importers and no oil exports to prop it back up, still some believe in the impossible.
"goods to 2 billions customers in Asia" worse than a pipe dream as it gives hope that we won't be one of the places that goes into a severe recession. It is the best time to 'fix the homestead up' as it will never be cheaper and a population that is available to tear down the old and put up the new. (like it should have been done in the beginning. If 'we' have to wait for Trump to be sworn in then that isn't that far off in terms of time and what could get worse before then.

Danbones said:
the us just bombed a syrian army base
wankers
Click to expand...
Another planned accident I'm thinking or they should give up flying.
 
VanIsle

VanIsle

Always thinking
Nov 12, 2008
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B00Mer said:
Our Petro Dollar is turning into the Peso...

I love all these idiots who say; "that will help manufacturing in Canada." LOL That ship has sailed, to China long ago.

All the low dollar is doing is creating inflation in Canada, and forcing Canadians to buy stuff in Canada vs shopping across the line.
Click to expand...

It used to help. Not now. They said on the news a few nights ago that, while oil prices are falling, it's detrimental to us because all of it is purchased in USD so our cost doesn't go down.
Shows the sheer stupidity of closing refineries here in Canada. Now add to that, that Trudeau is going to lower taxes for middle income and raise them for Corps. The Corp. simply move to China and we get an inferior product. Heinz being only one of them. We also lose jobs so where are the savings in the taxes?
 
MHz

MHz

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VanIsle said:
The Corp. simply move to China and we get an inferior product. Heinz being only one of them. We also lose jobs so where are the savings in the taxes?
Click to expand...
How dare they take away our right to sell shoddy products to foreign lands. ie raw asbestos
 
mentalfloss

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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B00Mer said:
Our Petro Dollar is turning into the Peso...

I love all these idiots who say; "that will help manufacturing in Canada." LOL That ship has sailed, to China long ago.

All the low dollar is doing is creating inflation in Canada, and forcing Canadians to buy stuff in Canada vs shopping across the line.
Click to expand...

Try Mexico.

Because of NAFTA.

VanIsle said:
It used to help. Not now. They said on the news a few nights ago that, while oil prices are falling, it's detrimental to us because all of it is purchased in USD so our cost doesn't go down.
Shows the sheer stupidity of closing refineries here in Canada. Now add to that, that Trudeau is going to lower taxes for middle income and raise them for Corps. The Corp. simply move to China and we get an inferior product. Heinz being only one of them. We also lose jobs so where are the savings in the taxes?
Click to expand...

There is no plan to increase corporate taxes.
 
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