The Canadian Press - ONLINE EDITION

Canadian dollar rises amid positive housing starts data, rising commodities

  • Print

TORONTO - The Canadian dollar advanced Tuesday as housing starts in March came in better than expected while commodity prices got a lift from tame Chinese inflation data.

The loonie was up 0.1 of a cent at 98.4 cents US as Canada Mortgage and Housing Corp. reported that housing starts in Canada were at an annualized rate of 184,028 units last month, up slightly from 183,207 in February. That was well above the 175,000 economists had forecast.

But economists sounded a note of caution.

"While the 184,000 pace marks an improvement from the winter lull, it is still well below the pace seen late last year and continues to point to an overall deceleration in homebuilding," said CIBC economist Emanuella Enenajor.

"Indeed, on an annual basis, starts are down 13.6 per cent from year-ago levels."

Government data Tuesday showed China's consumer prices rose at a 2.1 per cent rate in March, down from the previous month’s 3.2 per cent and well below the official target of 3.5 per cent for the year. Wholesale prices in the world’s second-largest economy declined by 1.9 per cent compared with last year.

The showing gives China some leeway in being able to take further measures to stimulate growth, particularly if industrial production figures due out next week show activity weaker than expected.

China is the world's biggest consumer of copper and the metal was up seven cents at US$3.44 a pound.

June gold bullion gained $14.20 to US$1,586.70 an ounce.

Oil prices shed early declines and the June contract on the New York Mercantile Exchange closed up 84 cents at US$94.20 a barrel.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Glenn January won't blame offensive line for first loss

View more like this

Photo Store Gallery

  • A baby Red Panda in her area at the Zoo. International Red Panda Day is Saturday September 15th and the Assiniboine Park Zoo will be celebrating in a big way! The Zoo is home to three red pandas - Rufus, Rouge and their cub who was born on June 30 of this year. The female cub has yet to be named and the Assiniboine Park Zoo is asking the community to help. September 14, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS
  • A water lily in full bloom is reflected in the pond at the Leo Mol Sculpture Garden Tuesday afternoon. Standup photo. Sept 11,  2012 (Ruth Bonneville/Winnipeg Free Press)

View More Gallery Photos

Poll

What's your take on a report that shows violent crime is decreasing in Winnipeg?

View Results

View Related Story

Ads by Google