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C$ steady in holiday trading; OPEC in focus TORONTO: The Canadian dollar was marginally weaker against its US counterpart on Thursday in extremely light US Thanksgiving Day trading as crude prices sank to 50-month lows ahead of OPEC's announcement on next year's crude output levels.Ministers from the Organization of the Petroleum Exporting Countries were not expected to cut production levels at their meeting in Vienna, according to sources close to the cartel. The announcement was due at 10:00 a.m. EST (1500 GMT).Mark Chandler, head of Canadian fixed income and currency strategy at Royal Bank of Canada, said this year's drop in oil prices has not hurt the Canadian dollar as much as other currencies."We've been lucky, or insulated, from the oil prices. We've been given the benefit of the doubt," Chandler said.At 9:35 a.m. EST (1435 GMT), the Canadian dollar was at C$1.1250 to the greenback, or 88.89 US cents, a little weaker than Wednesday's close of C$1.236, ...

C$ extends losses after OPEC says will not cut crude output TORONTO: The Canadian dollar extended its losses against the U.S. dollar on Thursday after Saudi Arabia's oil minister said OPEC will not be cutting crude output levels.The Canadian dollar retreated sharply to a session low of C$1.1305 to the greenback, or 88.46 U.S. cents, following the news, which also sent oil prices falling to a new four-year low.The currency, which was underperforming most other major counterparts, had closed at C$1.236, or 89.00 U.S. cents on ...
Dollar falls on weak US data, stocks gain NEW YORK: The dollar fell on Wednesday after disappointing US home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives. The Dow and S&P 500 set all-time closing highs. The less-than robust data fed worries the US economy might be losing momentum. Also feeding that concern was data showing US consumer spending rose ...
C$ shrugs off crude's pre-OPEC fall and strengthens TORONTO: The Canadian dollar strengthened against the greenback on Wednesday despite lower oil prices and uncertainty ahead of looming events such as Thursday's OPEC meeting and Friday's release of Canadian gross domestic product figures.The currency, which often follows movements in oil prices, rose even though the price of crude fell on expectations that OPEC (the Organization of the Petroleum Exporting Countries) members will not take drastic action to tighten the market when they gather for ...
C$ firms on retail sales, crude prices TORONTO: The Canadian dollar firmed against the US dollar on Tuesday, as Canadian retail sales growth came in stronger than expected and US oil prices rose moderately.The currency's gains were initially capped as the US dollar firmed after data showed US economic growth was far stronger than initially thought in the third quarter.In Canada, a surge in the auto sector helped retail sales power ahead by 0.8 percent in September, which could prompt forecasters to ...
Dollar slips more after drop in US consumer confidence NEW YORK: The dollar weakened further against the euro and yen early Tuesday after data showed U.S. consumer confidence unexpectedly fell in November to its lowest level in five months.The Conference Board said its index on American consumer confidence fell to 88.7, down from a revised 94.1 in October. Economists polled by Reuters had forecast a November reading of 96.0.The greenback fell to a U.S. session low of 117.82 yen after the surprisingly weak report ...
Dollar index rises near 4-1/2 year high; euro firms vs dollar NEW YORK: The dollar approached a 4-1/2-year high against a basket of currencies on Monday as traders speculated that overseas central banks would further ease monetary policies to help their economies, even though it would erode their currencies. China might be ready to lower interest rate again after Friday's surprise rate cut in an effort to stem deflation, sources familiar with its policymaking told Reuters. On Friday, Mario Draghi, the European Central Bank chief, threw ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln