Saturday, November 1st3.9°C
23888
22916

Canadian dollar closes higher ahead of heavy slate of economic data this week

TORONTO - The Canadian dollar closed higher Monday ahead of a heavy slate of North American economic data coming down this week.

The loonie gained 0.12 of a cent to 92.59 cents US.

There is one major Canadian economic report out this week. Statistics Canada posts May gross domestic product figures on Thursday and economists are looking for a 0.3 per cent gain for the month.

In the U.S., traders will look to second quarter GDP data out Tuesday. Growth is expected to come in at an annualized pace of three per cent after severe winter weather was mainly responsible for a 2.9 per cent contraction in the first quarter.

The U.S. Federal Reserve makes its scheduled announcement on interest rates on Wednesday. Traders will look for clues about whether the Fed could move on hiking rates earlier than the middle of 2015, which is generally expected.

And on Friday, traders will consider the latest reading on the health of the American manufacturing sector from the Institute for Supply Management, while the U.S. government releases its employment report for July. Economists expect that about 230,000 jobs were created during the month.

Canadian employment data for July will be released August 8.

September copper was unchanged at US$3.24 a pound amid positive Chinese industrial data.

Government data out Sunday showed a 17.9 per cent surge in net income last month compared to a year ago at China's largest industrial concerns. The gain outpaced an 8.9 per cent increase in May but some of the improvement was due to statistical distortion.

September crude on the New York Mercantile Exchange lost 42 cents to US$101.67 a barrel.

August bullion was unchanged at US$1,303.30 an ounce.

The Canadian Press


Read more Business News

23376


Recent Trending




Today's Market
S&P TSX14613.32+154.63
S&P CDNX769.59-2.06
DJIA17390.52195.10
Nasdaq4630.742+64.604
S&P 5002018.05+23.40
CDN Dollar0.88750.00
Gold1166.30-32.2999
Oil80.55-0.35
Lumber325.70+2.10
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.125+0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.18+0.03
Cantex0.045-0.015
Anavex Life Sciences0.185+0.0139
Metalex Ventures0.03-0.005
Russel Metals32.85+0.63
Copper Mountain Mining2.09+0.12
Colorado Resources0.125-0.015
ReliaBrand Inc0.015+0.003
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.39+0.015

 



23167

FEATURED Property
19570193132 Shetler Drive
6 bedrooms 3 baths
$449,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_



23884

23884


Member of BC Press Council


23910