Monday, June 29th18.8°C
26622
26452

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

24910


Recent Trending




Today's Market
S&P TSX14490.15-317.94
S&P CDNX667.09-12.29
DJIA17596.35-350.33
Nasdaq4958.47-122.04
S&P 5002057.64-43.85
CDN Dollar0.8065+0.0001
Gold1176.30-2.20
Oil58.81-0.15
Lumber291.30-0.90
Natural Gas2.754-0.096

 
Okanagan Companies
Pacific Safety0.165-0.010
Knighthawk0.010.00
QHR Technologies Inc1.53-0.02
Cantex0.05+0.00
Anavex Life Sciences0.42+0.01
Metalex Ventures0.075+0.010
Russel Metals22.68-0.40
Copper Mountain Mining1.17-0.05
Colorado Resources0.095+0.005
ReliaBrand Inc0.0064+0.0010
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.185+0.015
Decisive Dividend Corporation2.50+0.42

 





FEATURED Property
23375432-3745 Lakeshore Rd.
2 bedrooms 1 baths
$49,900
more details
image2image2
Click here to feature your property
Please wait... loading


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...


Renovation dreaming

Photo: Thinkstock.comDreaming of a new fire pit? A deep soaker tub?With summer on its way, lots of families have renovations on their minds. Did you know that home buyers can apply for a Purchase Plus...

_



26870




Member of BC Press Council