Wednesday, December 17th1.0°C
24562
23875

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

23615


Recent Trending




Today's Market
S&P TSX14213.88+352.36
S&P CDNX659.00+16.65
DJIA17356.87288.00
Nasdaq4644.312+96.477
S&P 5002012.89+40.15
CDN Dollar0.8589+0.0002
Gold1189.70-4.6001
Oil56.35-0.12
Lumber337.20+3.00
Natural Gas3.686-0.016

 
Okanagan Companies
Pacific Safety0.125+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.27+0.04
Cantex0.03-0.005
Anavex Life Sciences0.1659-0.0241
Metalex Ventures0.05-0.005
Russel Metals27.18+1.03
Copper Mountain Mining1.54+0.11
Colorado Resources0.105-0.005
ReliaBrand Inc0.0199+0.0065
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.22+0.02

 
24130


23616

FEATURED Property
20735461796 Birkdale Avenue
5 bedrooms 4 baths
$1,039,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...


Housing prices to skyrocket?

As most of you know, this column was started with a focus on Okanagan real estate. Over time, more and more columnists started covering the real estate sphere and so it morphed in to a personal colum...

_





24111


Member of BC Press Council


23546