Friday, May 29th13.5°C
26402
25998

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

26341


Recent Trending




Today's Market
S&P TSX15107.00-3.47
S&P CDNX692.16+1.54
DJIA18126.12-36.87
Nasdaq5097.98-8.62
S&P 5002120.79-2.69
CDN Dollar0.8028-0.0018
Gold1187.40-16.90
Oil59.27+0.90
Lumber274.40+1.90
Natural Gas2.81-0.01

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.48-0.02
Cantex0.03-0.01
Anavex Life Sciences0.40-0.02
Metalex Ventures0.07-0.01
Russel Metals25.20-0.31
Copper Mountain Mining1.30+0.02
Colorado Resources0.10-0.01
ReliaBrand Inc0.0129-0.0010
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.00
Decisive Dividend Corporation2.10+0.16

 



26181

FEATURED Property
2137547299 Clifton Road
4 bedrooms 4 baths
$2,198,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Yard sale pricing

Photo: Thinkstock.comI have deliberately abridged this household tips article to illustrate pricing strategies. "Tips For Pricing Yard Sale Items” was written by Lynnette Walczak, and publi...


What's a robo-advisor?

Photo: ContributedIt can only be attributable to human error. -Hal, 2001: A Space Odyssey For most of us who are within thinking distance of retirement, the term “robo” conjures up image...


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...

_



26418

26363


Member of BC Press Council


25690