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