Thursday, July 2nd20.4°C
25936
25998

Loonie little changed amid rising retail sales, disappointing Chinese data

TORONTO - The Canadian dollar closed slightly lower Wednesday amid better than expected February retail sales.

The loonie was down 0.03 of a cent to 90.65 cents US as Statistics Canada said retail sales rose 0.5 per cent to $41 billion. Economists had generally expected a 0.4 per cent rise.

Excluding sales at gasoline stations and motor vehicle and parts dealers, sales advanced 0.8 per cent.

At the same time, the agency lowered its reading for January retail sales to a gain of 0.9 per cent compared with an earlier estimate of 1.3 per cent.

Also, the revised figure for January, excluding sales at gasoline stations and motor vehicle and parts dealers, showed a 0.5 per cent gain, half of the initial estimate.

Traders also digested weak Chinese economic data.

Factory activity in China shrank for the fourth straight month in April, though the rate of decline was slightly slower. The preliminary version of HSBC's purchasing managers' index edged up to 48.3 from 48.0 in March. Numbers above 50 on the 100-point scale indicate expansion.

On the commodity markets, June crude in New York declined 31 cents to US$101.44 a barrel.

May copper was up a penny to $3.06 a pound while June gold bullion gained $3.50 to US$1,284.60 an ounce.

Other data showed the spring home buying season in the U.S. off to a weak start.

The U.S. Commerce Department says sales of new homes declined 14.5 per cent last month to a seasonally adjusted annual rate of 384,000. It was the second straight monthly decline and the lowest rate since July 2013.

The Canadian Press


Read more Business News

26594


Recent Trending




Today's Market
S&P TSX14637.99+84.66
S&P CDNX671.58+0.09
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7963-0.0009
Gold1165.50+2.50
Oil57.40-0.21
Lumber288.50+0.40
Natural Gas2.839+0.017

 
Okanagan Companies
Pacific Safety0.165+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55+0.03
Cantex0.05+0.01
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.87+0.14
Copper Mountain Mining1.14-0.02
Colorado Resources0.065-0.015
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.16-0.03
Decisive Dividend Corporation2.50+0.42

 





FEATURED Property
2348791217 Zacks Road, Nakusp, B.C.
$275
more details
Click here to feature your property
Please wait... loading


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...


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...

_



26376

26376


Member of BC Press Council


26432