OPEC Cuts Fail to Support Oil Prices
Despite recent threats of production cuts, world oil prices continued to slump today with trading on the New York Mercantile Exchange seeing a $2.44 (5.8 percent) drop to $39.92 a barrel. More
China Cuts Interest Rates
For the fifth time in just three months, the People’s Bank of China cut its benchmark one-year lending rate to 5.31 percent. More
Canadian Loonie Falls for Third Straight Day
Falling oil prices continued to force down Canada’s dollar – known as the loonie – to 1.2271 per US dollar.
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