Canadian Dollar Surges as Stock Markets Gain for Second Straight Day
The Canadian dollar surged today against a lower greenback, while rising commodities helped push the Toronto stock market higher.
The loonie was up 0.70 of a U.S. cent to 75.14 cents U.S. as other currencies also rose against the U.S. dollar.
In Toronto, the S&P/TSX composite index advanced for a second day in a row, climbing 113.72 points to 15,516.75.
In New York, the Dow Jones industrial average added 60.40 points to 19,942.16 and the S&P 500 rose 12.92 points to 2,270.75. The Nasdaq composite climbed 47.93 points to 5,477.01.
Most commodities were higher, as the February crude contract jumped 93 cents to $53.26 (U.S.) per barrel, while the February gold contract rose $3.30 to $1,165.30 an ounce. March copper contracts gained seven cents at $2.56 a pound.
February natural gas shed losses for a fourth straight day, down six cents to $3.27 per mmBTU.