Monday, July 6th31.1°C
26667
24949

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

26873


Recent Trending




Today's Market
S&P TSX14593.57-88.82
S&P CDNX663.33-7.25
DJIA17683.58-46.53
Nasdaq4991.94-17.27
S&P 5002068.76-8.02
CDN Dollar0.7900-0.0007
Gold1167.30+4.30
Oil53.61+0.48
Lumber285.00-3.50
Natural Gas2.771+0.015

 
Okanagan Companies
Pacific Safety0.175+0.005
Knighthawk0.010.00
QHR Technologies Inc1.52+0.00
Cantex0.05+0.02
Anavex Life Sciences0.52+0.06
Metalex Ventures0.065-0.010
Russel Metals22.39-0.39
Copper Mountain Mining1.09-0.08
Colorado Resources0.08-0.01
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.035-0.005
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.00

 





FEATURED Property
10349801087 Oswell Drive
$209,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...

_



26376

26376


Member of BC Press Council


26432