Wednesday, March 4th-9.1°C
25405
22952

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

24353


Recent Trending




Today's Market
S&P TSX15133.85-130.20
S&P CDNX702.30-2.05
DJIA18203.37-85.26
Nasdaq4979.901-28.195
S&P 5002107.78-9.61
CDN Dollar0.7986-0.002
Gold1202.30-1.70
Oil51.59-0.55
Lumber294.00-0.40
Natural Gas2.699-0.035

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.600.00
Cantex0.035-0.005
Anavex Life Sciences0.175-0.005
Metalex Ventures0.0450.00
Russel Metals25.21-0.33
Copper Mountain Mining1.25-0.04
Colorado Resources0.1350.00
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.215-0.01

 





FEATURED Property
219342816720 Carrs Landing Road
3 bedrooms 3 baths
$669,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


24681