Tuesday, March 31st8.1°C
25757

Loonie closes flat amid higher commodities; traders look to key U.S. data

TORONTO - The Canadian dollar closed little changed Monday amid rising commodity prices and ahead of key American economic data coming out this week.

The loonie slipped 0.01 of a cent to 91.77 cents US after falling almost two-thirds of a US cent Friday in the wake of disappointing employment data for April.

Traders will consider the April reading on U.S. retail sales on Tuesday as well as capacity utilization and industrial production data on Thursday and April housing starts numbers along with the May reading on consumer confidence from the University of Michigan on Friday.

Together, they are expected to indicate that the U.S. economy will run ahead 3.8 per cent in the second quarter after likely contracting in the January-March period.

It's a light week for Canadian data. Statistics Canada releases the March report on manufacturing shipments on Thursday.

On the commodity markets, July copper gained seven cents to US$3.15 a pound amid speculation that the Chinese government will take steps to support markets.

China's cabinet promised in an announcement late Friday to allow local governments to issue bonds and to streamline the approval process for initial public stock offerings, a move that was seen as widening market access.

June gold bullion added $8.20 to US$1,295.80 and ounce, while June crude oil ran up 60 cents to US$100.59 a barrel.

Meanwhile, the European Union added 13 more people and two enterprises to its Ukraine list for visa bans and asset freezes. The EU made the move Monday after pro-Russian insurgents claimed 89 per cent of those who cast ballots Sunday in eastern Ukraine’s Donetsk region and about 96 per cent of those who turned out in the neighbouring Luhansk region voted for sovereignty in referendums held on the weekend. It remained unclear whether the vote could lead to their secession.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14908.39+95.97
S&P CDNX680.33-1.10
DJIA17976.31+263.65
Nasdaq4947.44+56.22
S&P 5002086.24+25.22
CDN Dollar0.7847-0.0039
Gold1179.60-5.20
Oil47.61-1.07
Lumber280.60+1.30
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.115-0.010
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.215-0.004
Metalex Ventures0.04-0.01
Russel Metals24.40-0.10
Copper Mountain Mining1.18+0.05
Colorado Resources0.12-0.01
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.235-0.020
Decisive Dividend Corporation1.80+0.02

 



25670

FEATURED Property
1983974516 Caramillo Court
4 bedrooms 3 baths
$874,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Down payment

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no longer need the minimum 5% down payment ...


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...

_








Member of BC Press Council


25577