13°c Overcast
11°c Cloudy with clear breaks
The Canadian Press - ONLINE EDITION
Canadian dollar rises amid positive U.S. employment news, mixed commodities
TORONTO - The Canadian dollar closed higher Thursday amid higher commodity prices and positive economic data.
The loonie was up 0.48 of a cent at 97.82 cents US.
Statistics Canada reported that its price index for new homes rose 0.1 per cent in January.
That showing followed a 0.2 per cent increase in December.
The metropolitan region of Toronto and Oshawa, as well as the Calgary region, were the top contributors to the increase.
Meanwhile, the federal agency also reported that Canadian industries operated at 80.7 per cent of their production capacity in the fourth quarter, down slightly from the 81.1 per cent in the third quarter. The decline was a result of lower capacity utilization in the manufacturing sector.
That, in turn, was largely attributable to the transportation equipment manufacturing industry, where capacity utilization fell 3.5 percentage points to 88.9 per cent in the quarter. Factoring in that were longer than usual seasonal shutdowns in the auto sector.
In the U.S., fewer Americans sought unemployment aid last week, reducing the average number of weekly applications last month to a five-year low.
The Labour Department says applications fell 10,000 to a seasonally adjusted 332,000. That pushed the four-week average to 346,750, the lowest since March 2008, just several months after the Great Recession began.
Commodities were higher following declines on Wednesday.
Oil prices moved into positive territory after the employment data was released and the April crude contract on the New York Mercantile Exchange gained 51 cents to US$93.03 a barrel.
April gold bullion gained $2.30 to US$1,590.70 an ounce while May copper gained a cent to US$3.54 a pound.
More Business
- Back to Top
- Return to Business
More Business
(1 of 15 articles for today)
Automaker Tesla takes fight to North Carolina, mulls what could be tough national battle
11:34 AM 0RALEIGH, N.C. - Tesla Motors is fighting a bill in North Carolina that would effectively ban the company from selling ...
Poll
Most Popular Business
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Changes to CPP rules worth looking into
- New owner for lumber stores
- Value Partners cracks $1-B mark in assets
- Balancing today with tomorrow
- Even a nine-year-old grills McDonald's CEO over menu
- Creative industries can fuel a city's economic engine
- Differing dollars
- Manitoba housing affordability deteriorates
- Six wrong guesses get no respect
- New owner for lumber stores
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Value Partners cracks $1-B mark in assets
- Skyline-altering project will happen: developer
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Value Partners cracks $1-B mark in assets
- Changes to CPP rules worth looking into
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Manitoba farm land values increased by an average of 4.3 per cent in 2011
- She's got entrepreneurial spirit
- Thorough record-keeping key to power of attorney
- Career change seeds
- Will, power of attorney are different documents
- Genivar says ethical lapses have hurt employee morale; unveils growth plan
- Trust me
- New owner for lumber stores
- Value Partners cracks $1-B mark in assets
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Changes to CPP rules worth looking into
- Bridging the gap
- Developers to unveil plans for bold downtown tower
- Ex-'Pegger seeks to grow local businesses
- Skyline-altering project will happen: developer
- There are lots of I's in 'team'
- More than a new boss
- New owner for lumber stores
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Value Partners cracks $1-B mark in assets
- Older and jobless? Resource on hand
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
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.