Wednesday, September 2nd14.7°C
27215
27284

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 TSX13545.25+63.35
S&P CDNX550.05+2.08
DJIA16351.38+293.03
Nasdaq4749.98+113.87
S&P 5001948.86+35.01
CDN Dollar0.7539+0.0002
Gold1130.40-2.10
Oil46.20-0.05
Lumber235.10+1.10
Natural Gas2.642-0.006

 
Okanagan Companies
Pacific Safety0.22+0.05
Knighthawk0.010.00
QHR Technologies Inc1.19+0.01
Cantex0.04-0.01
Anavex Life Sciences1.25-0.07
Metalex Ventures0.055+0.005
Russel Metals20.87-0.34
Copper Mountain Mining0.61-0.01
Colorado Resources0.075-0.010
ReliaBrand Inc0.0045+0.0005
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.08-0.01
Decisive Dividend Corp2.62+0.12

 



27218

FEATURED Property
2268312205-130 Barber Road
2 bedrooms 2 baths
$236,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...


Your business is not a bank

Photo: Thinkstock.comYour plumbing business is not a bank. But when you are giving terms to customers that exceed what you get from your suppliers, you become one. And every time that someone does not...


Begin with the end in mind

Photo: ContributedWe humans love our dates: birthdays, anniversaries, 9/11, the Ides of March - our lives are intimately woven within the tapestry of the calendar. So it should come as no surprise whe...

_








Member of BC Press Council


25646