Friday, July 31st34.5°C
26925

Canadian dollar closes lower, U.S. retail sales put in disappointing showing

TORONTO - The Canadian dollar closed lower Tuesday amid a worse than expected reading on U.S. retail sales and mixed commodities.

The loonie was down 0.11 of a cent at 91.66 cents US.

The Commerce Department reported that U.S. retail sales rose just 0.1 per cent last month, after surging 1.5 per cent in March following a harsh winter that had curtailed shopping.

Auto sales increased 0.6 per cent in April and purchases at clothing stores were up 1.2 per cent. But most of those gains were offset by declines in spending at restaurants, online retailers and furniture and electronics stores.

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

On the commodity markets, June crude in New York gained $1.11 to US$101.70 a barrel, June gold bullion edged $1 lower to US$1,294.80 an ounce and July copper slipped a penny to US$3.14 a pound after running up over two per cent Monday.

In other economic news, a German survey of investment professionals has found that optimism fell in May for the fifth month in a row, a sign that growth in Europe’s biggest economy may be slowing.

The ZEW indicator fell to 33.1 from 43.2 in April. The decline was bigger than anticipated as the market consensus had been for a more modest drop to 40.0.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17689.86-56.12
Nasdaq5128.28-0.50
S&P 5002103.84-4.79
CDN Dollar0.7639-0.0053
Gold1096.90+0.60
Oil47.20-1.71
Lumber252.30+0.50
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences0.92+0.12
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
23637182287 Selkirk Drive
4 bedrooms 3 baths
$699,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_





27053


Member of BC Press Council


26707