Friday, November 28th-4.9°C
24302
23372

Canadian dollar up ahead of heavy slate of economic data; commodities mixed

TORONTO - The Canadian dollar closed higher Monday ahead of a variety of economic data that could affect the currency's performance.

The loonie rose 0.09 of a cent to 90.7 cents US.

It's a big week for economic data with traders looking to the outcome of Wednesday's U.S. Federal Reserve statement on interest rates, the latest readings on U.S. and Canadian economic growth and, at the end of the week, the American employment report for April.

They will also look to see the Chinese government's purchasing managers index for the manufacturing sector.

Elsewhere on the economic front, the Finance Department says it may soon issue a 50-year Government of Canada bond. It says that given the current low-yield environment, issuing such bonds in the ultra-long sector would contribute to a reduction in future refinancing risk. Currently the longest maturing federal bond is 30 years.

And in the U.S., the National Association of Realtors said its seasonally adjusted pending home sales index rose 3.4 per cent to 97.4 last month, the first increase since June and a sign that the housing market may pick up after a sluggish start to the year.

Markets also kept an eye on escalating tensions between Ukraine and Russia.

On Monday, the U.S government imposed sanctions against seven Russian government officials and 17 companies with links to President Vladimir Putin's inner circle.

The White House says the penalties are being levied because Russia has failed to live up to commitments it agreed to under an international accord aimed at de-escalating the crisis in Ukraine.

On the commodity markets, June crude in New York gained 24 cents to US$100.84 a barrel.

July copper was unchanged at US$3.09 a pound while June gold bullion dropped $1.80 to US$1,299 an ounce.

The Canadian Press


Read more Business News

23872


Recent Trending




Today's Market
S&P TSX14744.70-177.74
S&P CDNX741.87-13.53
DJIA17828.240.49
Nasdaq4791.63+4.312
S&P 5002067.56-5.27
CDN Dollar0.8756-0.0004
Gold1175.20-21.40
Oil66.15-7.54
Lumber329.40+1.40
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.145-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.07
Cantex0.04-0.005
Anavex Life Sciences0.1998+0.0288
Metalex Ventures0.06+0.02
Russel Metals29.91-0.79
Copper Mountain Mining1.94-0.18
Colorado Resources0.125-0.005
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.05+0.005
Mission Ready Services0.325+0.005

 
24130


24041

FEATURED Property
2128510#603 1630 Pandosy Street
1 bedrooms 2 baths
$369,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Don't stop dreaming!

On Wednesday evening I drove through the Bow Valley in Alberta. It is my old home town... the first place Jackie and I moved to in 1988 when we emigrated. We ended up setting up home there and living...


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...

_



24119

24220


Member of BC Press Council


24227