Jan 9, 2013 / 6:43 am
The Canadian dollar declined Wednesday amid data showing slightly fewer housing starts last month and an advance in oil and copper prices on global markets.
The loonie was down 0.06 of a cent to 101.29 cents US as Canada Mortgage and Housing Corp. reported that December starts came in at a seasonally adjusted annual rate of 197,976. That was down slightly from 201,376 in November but still higher than the 195,000 that economists had expected.
CMHC said the decline was due to fewer starts in rural areas of the country while Canadian urban starts remained stable.
"Today's data suggest that the homebuilding sector, once an engine of growth for the Canadian economy, is on a clear softening trend," said CIBC World Markets economist Emanuella Enenajor.
Read more Business News
|QHR Technologies Inc||1.11||+0.05|
|Anavex Life Sciences||0.348||-0.047|
|Copper Mountain Mining||1.49||+0.02|
Opportunities to Be Aware of This Year As the 2013 year is coming to an end, individuals should be mindful of year-end tax planning opportunities that will need to be implemented prior to December 31s...
When was the last time you thought about your mortgage? Most people take out a mortgage with their bank for five years and then forget about it. When you took out that mortgage did anyone discuss ot...
Recently, people have been asking me about my recent Stand Up Paddle adventure around the entire Okanagan Lake. Here is an excerpt from an article I wrote with a link at the end to the complete artic...
- Conservatives and NDP battle in war of words over competing energy policies
- BOC to hold interest rates
- Most actively traded companies on the TSX, TSX Venture Exchange markets
- Canadian Press NewsAlert: BoC keeps key interest rate unchanged at one per cent
- TSX drops 100 points, Bank of Montreal falls 4.5% as earnings report disappoints
- National Bank to hike dividend following $1.55 billion 2013 annual profit
- CN says redesigning tanker cars most important issue from Lac-Megantic
- Canadian auto sales up 6.5 per cent, Chrysler sees biggest jump of Big Three
- Politicians past and present pay tribute to the late Paul Desmarais
- Judge clears way for Detroit to confront billions in debt in next phase of epic bankruptcy
- Quotes from ceremony for Paul Desmarais
- Wind Mobile considering a bid for Mobilicity under court-supervised sale