MONEY IN BRIEF

The Prince George Citizen - - Money -

Currencies

OT­TAWA (CP) — These are in­dica­tive whole­sale rates for for­eign cur­rency pro­vided by the Bank of Canada on Fri­day. Quo­ta­tions in Cana­dian funds. Aus­tralia dol­lar 0.9595

Brazil real 0.3424

China ren­minbi 0.1934

Euro 1.5155

Hong Kong dol­lar 0.1702

In­dia ru­pee 0.01877

In­done­sia ru­piah 0.000092

Ja­pan yen 0.0118

Malaysia ring­git 0.3192

Mex­ico peso 0.06565

N.Z. dol­lar 0.9131

Nor­way krone 0.1567

Peru­vian new sol 0.3947

Rus­sia rou­ble 0.02006

Saudi riyal 0.3545

Sin­ga­pore dol­lar 0.9708

South Africa rand 0.09427

South Korean won 0.001184 Swe­den krona 0.1474 Switzer­land franc 1.3415 Tai­wanese dol­lar 0.04302 Thai­land baht 0.04049

Turkey lira 0.2511

U.K. pound 1.695

U.S. dol­lar 1.3299

Viet­nam dong 0.000057

The mar­kets to­day

TORONTO (CP) — Ma­jor North Amer­i­can mar­kets ex­pe­ri­enced steep drops Fri­day fol­low­ing weeks of de­clines and volatil­ity. This week is “one for the his­tory books,” said James Robert­son, se­nior port­fo­lio man­ager at Man­ulife As­set Man­age­ment Ltd. “In­tra-day volatil­ity has been so ex­treme.”

The S&P/TSX com­pos­ite in­dex re­treated 141.87 points to 14,795.13 de­spite be­ing in pos­i­tive ter­ri­tory ear­lier in the day. The in­dex opened on pos­i­tive em­ploy­ment data, he said. Canada’s un­em­ploy­ment rate last month was the low­est since Statis­tics Canada started mea­sur­ing com­pa­ra­ble data more than 40 years ago as the job­less rate fell to 5.6 per cent for Novem­ber, ac­cord­ing to the agency. The coun­try also added 94,100 net jobs, which is the largest monthly in­crease since March 2012. En­ergy stocks also helped boost the in­dex early on as oil prices rose. The Jan­uary crude con­tract rose US$1.12 to US$52.61 per bar­rel.

The com­mod­ity price in­creased on news that OPEC coun­tries reached an agree­ment to re­duce global oil pro­duc­tion by 1.2 mil­lion bar­rels a day – 800,000 by OPEC coun­tries and 400,000 by Rus­sia and other non-OPEC mem­bers – for six months start­ing in Jan­uary.

The en­ergy sec­tor fin­ished the day on a pos­i­tive note, but it wasn’t enough to lift the TSX as the mar­ket tone de­te­ri­o­rated over the course of the day.

In New York, mar­kets also ended the day in the red. The Dow Jones in­dus­trial av­er­age plunged 558.72 points to 24,388.95. The S&P 500 in­dex shed 62.87 points to 2,633.08 while the Nas­daq com­pos­ite fell 219.01 points to 6,969.25.

The Fe­bru­ary gold con­tract gained US$9.00 to US$1,252.60.

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