Tuesday, July 7th14.6°C
26926
25017

Canadian dollar declines amid stronger than expected read on U.S. housing

TORONTO - The Canadian dollar closed lower Tuesday amid stronger than expected U.S. housing data.

The loonie fell 0.11 of a cent to 90.68 cents US as the U.S. dollar strengthened in the wake of a report showing existing home sales fell 0.2 per cent last month to an annual rate of 4.59 million. That was higher than the annual rate of 4.55 million that economists had expected..

Other data showed a solid rise in Canadian wholesale sales during February.

Statistics Canada reported that wholesale sales rose for a second consecutive month in February, up 1.1 per cent to $50.7 billion, led by motor vehicle and parts. Excluding this subsector, wholesale sales rose 0.8 per cent.

Traders also looked ahead to Wednesday for the latest retail sales data. 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 winter weather.

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

The big number for the U.S. this week 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.

On Tuesday, commodity prices were mixed with the June crude contract in New York down $1.90 to US$101.75 a barrel.

June bullion faded $7.40 to US$1,281.10 an ounce while May copper was up one cent at US$3.05 a pound.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14593.57-88.82
S&P CDNX663.33-7.25
DJIA17683.58-46.53
Nasdaq4991.94-17.27
S&P 5002068.76-8.02
CDN Dollar0.7867-0.0039
Gold1166.10-6.80
Oil53.78+0.65
Lumber285.00-3.50
Natural Gas2.778+0.022

 
Okanagan Companies
Pacific Safety0.175+0.005
Knighthawk0.010.00
QHR Technologies Inc1.52+0.00
Cantex0.05+0.02
Anavex Life Sciences0.52+0.06
Metalex Ventures0.065-0.010
Russel Metals22.39-0.39
Copper Mountain Mining1.09-0.08
Colorado Resources0.08-0.01
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.035-0.005
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.00

 





FEATURED Property
2330021#310 3645 Carrington Road SE
1 bedrooms 1 baths
$209,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


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...

_








Member of BC Press Council


26680