Friday, September 19th16.0°C
19716
22646

Loonie adds to losses, greenback strengthens in wake of U.S. manufacturing data

TORONTO - The Canadian dollar closed lower Thursday, adding to a steep loss in the previous session as traders assessed mixed manufacturing data.

The loonie fell 0.14 of a cent to 90.1 cents US as the greenback strengthened against other currencies after a private survey by Markit showed that manufacturing in the U.S. expanded at the fastest pace in almost four years in February. Its Flash U.S. Manufacturing index rose to 56.7 from 53.7 in January.

Also, the Conference Board’s leading indicator, a measure of future growth, posted a moderate gain in January, suggesting the economy will continue to expand in the first half of this year.

That helped balance some negative Chinese data. HSBC’s preliminary version of its monthly China purchasing managers’ index fell to a seven-month low of 48.3 from January’s 49.5 on a 100-point scale. Numbers below 50 show activity contracting.

China’s economic activity has slowed steadily as the government tries to cool an investment boom and encourage more sustainable growth based on domestic consumption.

Commodity prices declined as the March crude contract on the New York Mercantile Exchange lost 39 cents to US$102.92 a barrel.

March copper was a cent lower at US$3.28 a pound while April gold fell $3.50 to US$1,316.90 an ounce.

The dollar had fallen 1.08 cents US on Wednesday after wholesale sales fell 1.4 per cent in December to the lowest level in six months.

Other manufacturing and housing data had underscored how large amounts of snow and freezing temperatures are having an impact on U.S. economic performance.

Traders looked ahead to Friday and the latest Canadian readings on the consumer price index for January and retail sales for December.

The Canadian Press


Read more Business News

22970


Recent Trending




Today's Market
S&P TSX15371.79-93.75
S&P CDNX964.25-1.54
DJIA17305.5939.60
Nasdaq4588.859-4.566
S&P 5002013.69+2.33
CDN Dollar0.9131-0.0012
Gold1219.00-7.90
Oil92.05-1.02
Lumber331.00+1.10
Natural Gas3.914-0.061

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.38+0.06
Cantex0.060.00
Anavex Life Sciences0.225-0.0011
Metalex Ventures0.060.00
Russel Metals36.31-0.70
Copper Mountain Mining2.61-0.07
Colorado Resources0.16-0.015
ReliaBrand Inc0.024-0.003
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.300.00

 



23104

FEATURED Property
20299511640 Merlot
3 bedrooms 3 baths
$478,800
more details
image2image2image2
Click here to feature your property
Please wait... loading


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...

_








Member of BC Press Council


22267