Saturday August 30, 2014

subscription options


Print Edition»

  • Includes free
    digital edition
  • Digital Edition»

  • Print format with
    enhanced features!
  • QUESTION OF THE WEEK

    • What do you consider to be the 2013 Story of the Year?
    • B.C. election
    • 36%
    • TRU law school
    • 4%
    • Proposed Ajax mine
    • 43%
    • Jack Shippobotham death
    • 3%
    • Starving horses seized
    • 11%
    • Red Lake cold case
    • 3%
    • Total Votes: 1070





    Home »  News »  Business

    Canadian dollar rises on positive jobs, housing reports; commodities mixed

    TORONTO - The Canadian dollar closed higher Monday, lifted by strong jobs data at the end of last week and a new report showing rising housing starts.

    The loonie was up 0.08 of a cent to 98.14 cents US after Canada Mortgage and Housing Corp. said Monday that housing starts were trending at 182,756 units in May compared with 182,971 in April. The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts.

    But the seasonally adjusted stand-alone annual rate was 200,178 units in May, an increase from 175,922 in April.

    "May’s increase in home building suggests overall housing construction continues to garner support from condominium-related building, although the overall levels are still off from the highs seen in mid-2012 when the market was more frothy," said CIBC World Markets economist Emanuella Enenajor.

    "Today’s data could mean that home building activity in the second quarter could be less of a drag than seen in the prior quarter."

    The dollar had jumped about six-tenths of a cent on Friday after Statistics Canada said the economy cranked out an impressive 95,000 jobs last month.

    Meanwhile, commodity prices were generally lower amid other data from the weekend that showed China’s trade, retail sales and other activity in May were weaker than expected, fuelling concerns about the country’s shaky economic recovery.

    China’s trade surplus rose to $20.4 billion in May from $18.2 billion in the prior month. However, export growth slowed dramatically to just one per cent from a year ago, which was the slowest increase since July 2012. Imports slipped 0.3 per cent from year-earlier levels.

    July crude on the New York Mercantile Exchange shed 26 cents to US$95.77 a barrel.

    July copper fell three cents to US$3.24 a pound on top a 10-cent slide over the previous two sessions. Copper is widely viewed as an economic barometer as it is used in so many applications.

    And August bullion was up $3 to US$1,386 an ounce.


    Comments


    NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

    The Kamloops Daily News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

    blog comments powered by Disqus



    Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

    LOG IN



    Lost your password?