Friday, October 9th11.3°C

Loonie, oil, bullion all make gains

TORONTO - The Canadian dollar made slight headway Wednesday as oil and gold prices advanced and traders looked ahead to key economic data coming out at the end of the week.

The commodity sensitive loonie gained 0.06 of a cent to 100.44 cents US.

The March crude contract on the New York Mercantile Exchange erased early losses to advance 16 cents to US$96.80 a barrel amid data showing a smaller than expected climb in last week's crude inventories, along with a decline in distillate stockpiles.

March copper on the Nymex slipped three cents to US$3.74 a pound while April gold bullion gained $2.40 to US$1,675.90 an ounce.

It was a light day on the economic calendar.

The major reports of the week come out on Friday when Statistics Canada is expected to report that job creation slowed considerably in January. Economists believe that only about 4,000 jobs were created last month, down sharply from 31,200 the previous month.

Other data is expected to show a continued weakening in the Canadian housing sector.

"Housing starts in January could soften considerably, after being supported in the prior month by above-average seasonal temperatures," said a commentary from CIBC World Markets.

The consensus calls for housing starts to come in at an annualized rate of 195,000, down from 198,000 in December.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13964.36-14.30
S&P CDNX552.26+5.20
S&P 5002014.89+1.46
CDN Dollar0.7723-0.0001
Natural Gas2.52+0.02

Okanagan Companies
Pacific Safety0.225-0.005
QHR Technologies Inc1.25+0.02
Metalex Ventures0.07+0.02
Russel Metals21.26-0.29
Copper Mountain Mining0.66+0.05
Colorado Resources0.07+0.00
ReliaBrand Inc0.0175+0.0009
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.075-0.005
Decisive Dividend Corp3.25+0.14
Diamcor Mining0.97+0.03



23545623949 Milford Road
3 bedrooms 4 baths
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council