03:15:51 EST Thu 02 Feb 2023
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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 906,003,982
Close 2022-11-29 C$ 64.19
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FP/wire say CIBC, rivals see loonie hit one-week low

2022-11-29 08:52 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Tuesday, Nov. 29, edition that the Canadian dollar weakened to a one-week low against its U.S. counterpart on Monday, as anti-lockdown protests in China rattled investor nerves and data showed Canada's current account balance swinging to a deficit. A Reuters dispatch to the Post reports that the loonie was trading 0.8 per cent lower at $1.348 to the greenback, or 74.16 U.S. cents, its biggest decline since Oct. 14. It touched its weakest intraday level since Nov. 21 at $1.349. Wall Street stocks tumbled and the safe-haven U.S. dollar rose against a basket of major currencies as protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to prospects for the global economy. U.S. crude futures turned positive after falling to close to their lowest levels in a year.

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