Saturday, September 5th6.8°C
27662
26758

Canadian dollar lower amid strong U.S. durable goods data, geopolitical concerns

TORONTO - The Canadian dollar closed lower Friday while the greenback strengthened amid geopolitical concerns and data showing a rebound in U.S. durable goods orders.

The loonie fell 0.6 of a cent to 92.47 cents US as orders in the U.S. for durable goods, such as machinery, computers and related products and commercial aircraft, increased by 0.7 per cent during June. Orders had dropped one per cent in May.

The American currency also strengthened as geopolitical concerns continued to cast a shadow.

On Friday, European Union ambassadors reached a preliminary deal on stepped-up sanctions against Russia, targeting its access to European capital markets and trade in the defence sector, dual-use goods and sensitive technologies.

The ambassadors also ordered EU-wide asset freezes and travel bans for an undisclosed number of Russians and pro-Russian Ukrainians who are accused of undermining Ukraine’s sovereignty.

And U.S. officials accused Russia of firing artillery over the border into Ukraine.

U.S. bond yields also fell, with the benchmark 10-year Treasury down to around 2.48 per cent late Friday afternoon from 2.5 per cent on Thursday.

It is a very heavy week coming up for potentially market moving U.S. economic data with the latest reading on consumer confidence on Tuesday, U.S. second-quarter gross domestic product and an interest rate decision by the Federal Reserve on Wednesday, while the week ends with the Institute for Supply Management's manufacturing reading and the government's employment report for July.

In Canada, the major report is the May reading on gross domestic product coming out on Thursday.

On the commodity markets, September crude on the New York Mercantile Exchange edged up two cents to US$102.09 a barrel.

August gold gained $12.50 to US$1,303.30 an ounce, while September copper was down three cents at US$3.24 a pound.

The Canadian Press


Read more Business News

27460


Recent Trending




Today's Market
S&P TSX13478.31-118.10
S&P CDNX552.61-1.14
DJIA16102.38-272.38
Nasdaq4683.92-49.58
S&P 5001921.22-29.91
CDN Dollar0.7532-0.0047
Gold1120.70-3.00
Oil45.67-1.08
Lumber234.00+1.10
Natural Gas2.658-0.067

 
Okanagan Companies
Pacific Safety0.215-0.005
Knighthawk0.010.00
QHR Technologies Inc1.24+0.00
Cantex0.04-0.01
Anavex Life Sciences1.36+0.25
Metalex Ventures0.05-0.00
Russel Metals21.23+0.14
Copper Mountain Mining0.59-0.01
Colorado Resources0.075-0.010
ReliaBrand Inc0.0045+0.0005
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.07-0.01
Decisive Dividend Corp2.62+0.12

 



26873

FEATURED Property
2389361892 Lloyd Jones Drive
5 bedrooms 6 baths
$1,350,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


The ball and chain

I have been pleasantly surprised of late to speak with business owners who understand the impact of fixed versus variable costs. A fixed cost is one that must be paid each and every month regardless o...


Where does the money go?

Photo: Thinkstock.comOne of the major components of business relationships that involve money are the fees in the investment industry. There is currently a quiet battle being waged between the practit...


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...

_








Member of BC Press Council


27438