Tuesday, October 6th2.0°C

Canadian dollar declines amid lower wholesale sales, mixed commodities

TORONTO - The Canadian dollar closed lower Tuesday amid data showing lower wholesale sales in March and falling oil and metal prices.

The loonie was down 0.36 of a cent at 91.75 cents US as Statistics Canada reported that wholesale sales decreased 0.4 per cent to $50.5 billion in March. The decline followed two consecutive monthly gains.

The agency said that the motor vehicle and parts subsector recorded the largest decline in March. Excluding this subsector, wholesale sales edged up 0.1 per cent to $42.3 billion.

Markets are looking ahead to two other major reports this week.

The March reading on Canadian retail sales comes out Thursday and economists are looking for a rise of 0.3 per cent.

On Friday, markets will look to the latest inflation data and, in turn, what effect the reading could have on the Bank of Canada's interest rate announcement in early June.

Economists expect the inflation data will show that the consumer price index rose two per cent year over year in April, up from the 1.5 per cent reading registered in the previous month.

On the commodity markets, July copper was off two cents to US$3.14 a pound, June gold bullion edged up 80 cents to US$1,294.60 an ounce and the June crude contract in New York lost early gains and declined 17 cents to US$102.44 a barrel.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13607.58+55.38
S&P CDNX531.16+1.25
S&P 5001988.18+1.13
CDN Dollar0.7647+0.0003
Natural Gas2.466+0.016

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.22+0.03
Metalex Ventures0.06+0.00
Russel Metals22.93+0.42
Copper Mountain Mining0.53+0.03
Colorado Resources0.07-0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.09-0.00
Decisive Dividend Corp3.48-0.01
Diamcor Mining0.95+0.05


24004034026 Pritchard Drive
6 bedrooms 5 baths
more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council