Tuesday, September 23rd14.2°C
23284
22501

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

21336


Recent Trending




Today's Market
S&P TSX15129.00-136.35
S&P CDNX928.09-26.97
DJIA17172.68-107.06
Nasdaq4527.689-52.10
S&P 5001994.29-16.11
CDN Dollar0.9102+0.0045
Gold1226.50+8.60
Oil91.50-0.91
Lumber332.20+5.60
Natural Gas3.945+0.037

 
Okanagan Companies
Pacific Safety0.17+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.10
Cantex0.04-0.01
Anavex Life Sciences0.2195-0.0035
Metalex Ventures0.05-0.01
Russel Metals35.37-0.38
Copper Mountain Mining2.40-0.26
Colorado Resources0.16-0.005
ReliaBrand Inc0.0206-0.0043
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.27-0.02

 



23392

FEATURED Property
1761161959 Regal Road
5 bedrooms 6 baths
$1,495,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_



23499




Member of BC Press Council


22771