Tuesday, September 30th15.6°C
23366
23088

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

23015


Recent Trending




Today's Market
S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8923-0.0007
Gold1208.50-3.10
Oil90.02+0.26
Lumber333.00+0.10
Natural Gas4.126+0.005

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 



23124

FEATURED Property
15517975041 Redstem Street
5 bedrooms 3 baths
$499,999
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 ...

_



23499

23499


Member of BC Press Council


22620