Tuesday, June 30th25.9°C
25993
25998

Loonie little changed, commodity prices mixed; traders look to retail data

TORONTO - The Canadian dollar closed slightly lower Monday amid a dearth of market-moving data and mixed commodity prices.

The loonie was down 0.01 a cent to 90.79 cents US.

It's a light week for economic data.

The primary economic news for the week comes out Wednesday when Statistics Canada is expected to report that retail sales in February rose 0.4 per cent from January, when sales posted a big 1.3 per cent bounce from the poor performance registered in December because of severe ice storms.

Economists expect a good chunk of the gain will be driven by higher gasoline prices.

The big number for the U.S. is March durable goods data coming out on Thursday. Economists looked for goods orders to have risen by 1.9 per cent following a 2.2 per cent gain in February. Excluding the volatile transportation segment, orders are expected to have risen by 0.5 per cent.

On the commodity markets, May crude in New York gained seven cents to US$104.37 a barrel.

May copper was unchanged at US$3.04 a pound while June gold bullion fell $5.40 to US$1,288.50 an ounce.

The loonie declined 0.28 of a cent last week as the Bank of Canada said that it was leaving its key rate at one per cent, where it's been since September 2010. The bank also lowered its forecast for first-quarter growth this year to 1.5 per cent from 2.5 per cent, but attributed the downgrade mostly to temporary impacts of a unusually severe winter.

At the same time, analysts said that higher than expected inflation data that came out later in the week likely shifted expectations back toward a firmly neutral bias by the Bank of Canada.

The Canadian Press


Read more Business News

26603


Recent Trending




Today's Market
S&P TSX14553.33+63.18
S&P CDNX671.49+4.40
DJIA17619.51+23.16
Nasdaq4986.87+28.40
S&P 5002063.11+5.47
CDN Dollar0.7999-0.0007
Gold1173.10+1.60
Oil59.41-0.69
Lumber288.40-3.80
Natural Gas2.828-0.004

 
Okanagan Companies
Pacific Safety0.16-0.01
Knighthawk0.010.00
QHR Technologies Inc1.52-0.01
Cantex0.04-0.01
Anavex Life Sciences0.45+0.03
Metalex Ventures0.075+0.010
Russel Metals22.73+0.05
Copper Mountain Mining1.16-0.01
Colorado Resources0.08-0.02
ReliaBrand Inc0.006-0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.185+0.015
Decisive Dividend Corporation2.50+0.42

 



26764

FEATURED Property
22937262625 Wellington Road
4 bedrooms 2 baths
$479,900
more details
image2image2image2
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...

_



26614

26870


Member of BC Press Council


24222