Thursday, October 2nd4.9°C
22738

Loonie slips on retail sales

The Canadian dollar declined Thursday amid a disappointing read on retail sales.

The loonie declined 0.07 of a cent to 100.28 cents US as Statistics Canada reported that sales edged up just 0.1 per cent to $39.1 billion in September.

That came on top of increases in the previous two months. But economists had expected retail sales to rise by 0.5 per cent during the month.

The loonie had been higher earlier in the morning amid other data showing that the Chinese manufacturing sector moved back into expansion territory in November for the first time in 13 months.

HSBC Corp.'s purchasing managers' index rose from 49.5 in October to 50.4 in November. Any reading over 50 indicates expansion. The PMI index measures overall manufacturing activity by surveying numerous indicators including orders, employment and actual production.

The HSBC reading was particularly good news for the global economy, which is still recovering slowly from the 2008 financial crisis and recession.

Copper price rose in the wake of the report with the December contract up a cent to US$3.51 a pound. Copper is viewed as an economic bellwether as it is used in so many applications. China is the world's biggest consumer of the metal.

The December gold bullion contract was ahead $3.10 to US$1,731.30 an ounce.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14805.44-155.069
S&P CDNX896.35-12.94
DJIA16804.71-238.19
Nasdaq4422.085-71.305
S&P 5001946.16-26.13
CDN Dollar0.8992+0.0036
Gold1214.30-1.20
Oil86.98-2.13
Lumber344.10+6.30
Natural Gas4.051+0.028

 
Okanagan Companies
Pacific Safety0.135+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.04
Cantex0.075+0.01
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.68+0.11
Copper Mountain Mining2.29-0.13
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 



23167

FEATURED Property
20935232490 Alexandria Way
$449,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


22771