Friday, October 31st9.8°C
23888
22916

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




Recent Trending




Today's Market
S&P TSX14576.74+118.05
S&P CDNX764.91-6.74
DJIA17337.73142.31
Nasdaq4618.248+52.11
S&P 5002011.29+16.64
CDN Dollar0.8872-0.0062
Gold1169.30-29.2999
Oil80.37-0.53
Lumber325.70+2.10
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.12+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.045-0.015
Anavex Life Sciences0.185+0.0139
Metalex Ventures0.03-0.005
Russel Metals32.64+0.42
Copper Mountain Mining2.035+0.065
Colorado Resources0.125-0.015
ReliaBrand Inc0.015+0.003
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.3750.00

 



23511

FEATURED Property
19170318-1450 Rose Meadow
3 bedrooms 2 baths
$389,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22771