Saturday, March 28th11.5°C
25490
25263

Dollar dips slightly; StatsCan readies revised July jobs report amid data error

TORONTO - The Canadian dollar closed little changed Tuesday after Statistics Canada surprised markets in announcing that it will release revised job creation figures for July.

The loonie was down 0.02 of a cent at 91.56 cents US after a statement on the agency's website said an error had been detected and that it would launch a review of the data verification process. Meanwhile, a revised jobs report for July will be issued this Friday.

Statistics Canada reported last Friday that the economy created only 200 jobs last month, a far cry from the approximately 15,000 positions that economists had forecast.

The loonie had traded lower earlier in the session as the U.S. dollar gained against other currencies amid geopolitical worries and falling German investor confidence.

The tone on markets was cautious as Ukraine said it would deny a Russian aid mission entry because it had not been certified by the Red Cross and could be a covert military operation.

Ukraine insists any aid must be delivered by the International Red Cross.

Also, Germany’s ZEW indicator of confidence among professional investment analysts sagged to a 20-month low in August. The ZEW institute’s index fell to 8.6 from 27.1. Market observers had expected a fall to only 17.0.

Fears about a possible escalation of the crisis in Ukraine have weighed on Germany's business confidence in recent weeks.

On the commodity markets, the September crude contract in New York declined 71 cents to US$97.37 a barrel after the International Energy Agency cut its forecast for global oil demand.

December gold bullion added a dime to US$1,310.60 an ounce while September copper fell two cents to US$3.15 a pound.

As well as monitoring the situation in Ukraine, investors are keeping one eye on Iraq.

Iraq’s incumbent prime minister, Nouri al-Maliki, appeared more isolated Tuesday as he pressed his battle to remain in power while Iraqi politicians and the international community rallied behind a Shiite premier-designate who could be a more unifying figure.

The power struggle in Baghdad comes as Iraq is battling militants from the al-Qaida breakaway group in the north and west. The offensive by the group Islamic State has captured large chunks of Iraqi territory since June.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14812.42-57.38
S&P CDNX681.43+1.87
DJIA17712.66+34.43
Nasdaq4891.22+27.86
S&P 5002061.02+4.87
CDN Dollar0.7928-0.0082
Gold1196.30-8.80
Oil48.43-3.00
Lumber282.40-3.60
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.219+0.009
Metalex Ventures0.04-0.01
Russel Metals24.50-0.18
Copper Mountain Mining1.13+0.00
Colorado Resources0.125+0.010
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.255+0.020
Decisive Dividend Corporation1.80+0.02

 



24910

FEATURED Property
222852421-17610 Rawsthorne Road
2 bedrooms 2 baths
$199,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...


Stay out of sales limbo!

Have you ever had a series of good meetings with a prospect … gathered all kinds of information … and given what you thought was a great presentation … only to receive a response ...

_



25482

25482


Member of BC Press Council


25342