Saturday, January 31st-0.9°C
24736
24890

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

23967


Recent Trending




Today's Market
S&P TSX14673.48+37.521
S&P CDNX676.81+9.70
DJIA17164.95-251.90
Nasdaq4635.24-48.167
S&P 5001994.99-26.26
CDN Dollar0.7856-0.0067
Gold1286.60-5.10
Oil49.60+3.16
Lumber322.50+0.70
Natural Gas2.87-0.111

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.400.00
Cantex0.035-0.005
Anavex Life Sciences0.174-0.006
Metalex Ventures0.040.00
Russel Metals23.42-0.16
Copper Mountain Mining0.99+0.01
Colorado Resources0.150.00
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.050.00
Mission Ready Services0.2350.00

 



24153

FEATURED Property
19009594118 Gallaghers Blvd. S
3 bedrooms 3 baths
$675,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Leaving a job: changing careers

Many people, who find themselves out of work and with time on their hands, and money in their pockets due to lay-off, start thinking about a career change. If you weren’t happy with the directio...


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...

_



24709

24709


Member of BC Press Council


24975