Wednesday, October 1st17.2°C
22738
22805

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 TSX14805.44-155.069
S&P CDNX896.35-12.94
DJIA16804.71-238.19
Nasdaq4422.085-71.305
S&P 5001946.16-26.13
CDN Dollar0.8957+0.0002
Gold1213.60-1.90
Oil89.18-0.58
Lumber343.50+5.70
Natural Gas4.02-0.101

 
Okanagan Companies
Pacific Safety0.135+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.04
Cantex0.075+0.01
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.68+0.11
Copper Mountain Mining2.29-0.13
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 





FEATURED Property
1431508Big White Chalet for Sale by Owner
$279,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_





23545


Member of BC Press Council


23266