Canadian dollar remains below 70 cents US

Click to play video: 'New prediction says loonie could sink to 59 cents U.S.' New prediction says loonie could sink to 59 cents U.S.
At least one analyst is now predicting the Canadian dollar could slip as low as 59 cents U.S. Vassy Kapelos reports – Jan 13, 2016

TORONTO – The Canadian dollar continued to trade below 70 cents US for a second day, after closing below that level on Wednesday for the first time since April 2003.

The loonie was at 69.64 cents US a half-hour before North American stock markets were to open Thursday, down 0.07 of a U.S. cent from the currency’s previous close in Toronto.

MORE: Latest coverage — the plunging loonie

On the commodity markets, the February gold contract was down $1.90 at US$1,085.20 an ounce and the February crude contract was up 34 cents at US$30.82 per barrel — still at near the lowest levels in years.

The Dow Jones index futures were up 83 points at 16,139 points and S&P 500 futures advanced 12 points to 1,893, although most major overseas markets were down.

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On Wednesday, the Toronto Stock Exchange’s S&P/TSX composite index lost 203.49 points at 12,170.41, marking its 10th losing day in 11 trading sessions since the Christmas break.



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