Monday, December 22nd5.4°C
24124
24587

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

23643


Recent Trending




Today's Market
S&P TSX14447.19-21.069
S&P CDNX672.16-4.38
DJIA17901.0096.20
Nasdaq4765.684+0.304
S&P 5002070.47-0.18
CDN Dollar0.8589-0.0028
Gold1189.40-6.50
Oil56.50+2.39
Lumber337.70-0.30
Natural Gas3.169-0.295

 
Okanagan Companies
Pacific Safety0.125+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.21-0.04
Cantex0.03-0.005
Anavex Life Sciences0.1712-0.0014
Metalex Ventures0.05-0.005
Russel Metals25.17-0.41
Copper Mountain Mining1.57+0.02
Colorado Resources0.11-0.01
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.02-0.03
Mission Ready Services0.23+0.015

 
24130


24153

FEATURED Property
2153995414 Morden Road
3 bedrooms 3 baths
$659,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


First-time homebuyer mistakes

If you’re on the hunt for your first home and want to have a smooth and successful home purchasing experience avoid these common first-time homebuying mistakes.If you are looking for your first ...


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...

_



24111

24386


Member of BC Press Council


24333