Sunday, December 21st7.0°C
24562
23931

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 TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8613-0.0003
Gold1195.90+2.50
Oil56.50+2.39
Lumber338.00-0.70
Natural Gas3.464-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


23041

FEATURED Property
1998117822 Clarance Ave.
$249,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_





24386


Member of BC Press Council


24409