Wednesday, October 1st5.4°C
22738

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

23479


Recent Trending




Today's Market
S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8924-0.0007
Gold1206.30-5.2999
Oil89.89+0.13
Lumber333.20+0.30
Natural Gas4.135+0.014

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 





FEATURED Property
2000282#76-2005 boucherie road
3 bedrooms 2 baths
$99,900
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 ...

_








Member of BC Press Council


23266