Canadian dollar up as commodities rise traders look to US election outcome

TORONTO – The Canadian dollar closed higher Tuesday as the greenback lost ground ahead of the results of an extremely tight U.S. presidential race.The commodity-sensitive loonie also benefited as the lower greenback boosted prices for oil and metals, closing up 0.5 of a cent to 100.83 cents US.“Election day comes with the presidential race too close to call and some trepidation about whether a firm winner might even be declared by tomorrow,” said a commentary from RBC Dominion Securities.Whichever way the contest plays out, the big hope is that the result will be clear enough to avoid a rerun of 2000 when the result was only known weeks later after a U.S. Supreme Court decision. Above all, traders hope that Democrats and Republicans will get down to the business of arriving at a budget agreement that will avert an automatic increase in taxes and spending cuts that could be imposed at the start of 2013.This so-called fiscal cliff is particularly alarming as economists predict the subsequent shock from the higher taxes and deep automatic cuts in military and domestic spending would send the U.S. economy back into recession.The December crude contract in New York closed up $3.06 to US$88.71 a barrel.December copper added four cents to US$3.51 a pound while December bullion climbed $31.80 to US$1,715 an ounce.Greece was also in focus as legislators prepared to vote on a €13.5-billion package of spending cuts and tax increases over the next two years that are needed in order to secure another round of rescue loans.The outcome of the vote Wednesday is far from certain due to disagreements in the five-month-old coalition government and a reluctance among centre-left legislators to approve yet more austerity measures. But rejection of the savings package would leave Greece facing the threat of a default on its mountain of debt that could force it to eventually exit the euro bloc. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Canadian dollar up as commodities rise, traders look to U.S. election outcome by Malcolm Morrison, The Canadian Press Posted Nov 6, 2012 4:24 pm MDT read more

Details

Spotifys Top 10 most viral tracks

The following list represents the most viral tracks on Spotify, based on the number of people who shared it divided by the number who listened to it, from Monday, August 19, to Sunday, August 25, via Facebook, Tumblr, Twitter and Spotify.UNITED STATES1. Lorde, “Royals” (Lava Music/Republic Records)2. Ariana Grande and Nathan Sykes, “Almost Is Never Enough” (Republic Records)3. Miley Cyrus, “Wrecking Ball” (RCA Records)4. Klingande, “Jubel” (Klingande)5. HAIM, “The Wire” (Columbia)6. Drake, “Hold On, We’re Going Home” (Cash Money Records)7. John Mayer featuring Katy Perry, “Who You Love” (Columbia)8. Katy Perry, “Roar” (Capitol)9. Cage the Elephant, “Come A Little Closer” (RCA)10. John Legend, “All of Me” (Columbia)UNITED KINGDOM1. Roachford, “Cuddly Toy” (Columbia)2. Moderat, “Bad Kingdom” (Monkeytown Records)3. Klangkarussell, “Sonnentanz — Sun Don’t Shine” (Klangkarussell)4. Wild Club, “Thunder Clatter” (Big Light Recordings)5. Various Artists — Claude Debussy, “Clair De Lune” (Big Eye Music)6. Matt Cardle, “Loving You” (Cash Money Records)7. Avenged Sevenfold, “Hail to the King” (Warner Bros. Records)8. Emiliana Torrini, “Speed of Dark” (Rough Trade Records Ltd)9. Alter Bridge, “Addicted to Pain” (Roadrunner Records)10. Drake, “Hold On, We’re Going Home” (Cash Money Records) Spotify’s Top 10 most viral tracks AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Associated Press Posted Aug 27, 2013 1:27 pm MDT read more

Details

Recent Posts

Recent Comments

Archives

Categories

Meta

Tags