Thursday, November 27th2.7°C
22246
24056

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

23967


Recent Trending




Today's Market
S&P TSX15008.41-30.00
S&P CDNX765.38-5.68
DJIA17827.7512.81
Nasdaq4787.317+29.065
S&P 5002072.83+5.80
CDN Dollar0.8851-0.0038
Gold1193.50-3.10
Oil72.56-1.13
Lumber327.90-1.60
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.160.00
Knighthawk0.01-0.005
QHR Technologies Inc1.32-0.02
Cantex0.04-0.005
Anavex Life Sciences0.171-0.004
Metalex Ventures0.03-0.005
Russel Metals31.37-0.13
Copper Mountain Mining2.17+0.01
Colorado Resources0.12-0.01
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.34+0.015

 
24130


24035

FEATURED Property
21417444300 Painted Turtle Drive
$245,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Second marriage issues

It is not unusual that one or both of the parties planning to marry are approaching marriage for the second time. There are pluses and minuses to this new situation. On the plus side, individuals ente...


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...

_



24119

24119


Member of BC Press Council


22707