MID-DAY: Loonie slumps further weighted by housing market drop; Blackberry shares boost as CEO continues to 2023
The Loonie continues to tumble as its cross border counterpart is gaining. The Canadian currency has dropped to 76.46 cents US this morning weighted by a slumping Canadian housing market. The Greenback is also playing a role as the White House’s new economic adviser gave a stellar report on the United States currency, pushing it higher in the markets.
On Bay Street the TSX is up to 15,775 and over on Wall Street the Dow is also gaining up to 24,965.
The price of oil is up to 61-21 following news that the US is continuing to boost production overwhelming the global market.
Blackberry shares are continuing to gain following the company’s announcement that CEO John Chen would continue his role until 2023. Chen’s deal is worth $300 million, but is dependent on the price of shares.