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Canadian inflation rate falls to 0.4 per cent as gas prices tumble in April

The Canadian PressMay 17, 2013 09:45

OTTAWA - Canada's inflation story is fast becoming one about disinflation. Statistics Canada reported Friday that the annual rate fell an astonishing six-tenths of a point to 0.4 per cent last month, the lowest it's been since October 2009, as gas prices plunged by six per cent — also the biggest drop since October 2009 — and many other consumer goods registered outright declines. The loonie fell more than a penny against the U.S. dollar in early trading as markets read the soft report as making interest rate hikes in Canada less likely and further off into the horizon.

Canadian dollar falls, dragged down by weaker-than-expected inflation figures

The Canadian PressMay 17, 2013 09:45

TORONTO - The Canadian dollar headed lower Friday after Statistics Canada reported that consumer prices rose last month at the slowest rate it's seen in more than three years. The loonie finished the day down 0.95 of a cent to 97.17 cents US as the U.S. dollar also gained strength against other major currencies. The Canadian dollar was as low as 96.96 cents at one point in the morning, a level not seen in more than two months.

European stocks stage rebound; Paris tops 4,000 points

Agence France-PresseMay 17, 2013 07:47

Europe's main stock markets rebounded on Friday, with Paris jumping above 4,000 points for the first time since July 2011 as traders went bargain-hunting after earlier losses, dealers said. In late morning deals, the Paris CAC 40 rallied to 4,009.15 points, which was the highest level since July 7, 2011. It later stood at 3,992.65 points, up 0.34 percent from Thursday's close. Elsewhere, London's benchmark FTSE 100 gained 0.36 percent to 6,712.02 points, while Frankfurt's DAX 30 index won 0.14 percent to 8,380.06.

Dollar gains slightly in Asia

Agence France-PresseMay 17, 2013 01:45

The dollar gained slightly in Asia on Friday as investors cautiously adjusted their positions following the unit's recent surge. The US currency was at 102.28 yen in afternoon Asian trade against 102.22 yen in New York late Thursday. The euro bought $1.2864 and 131.57 yen against $1.2886 and 131.72 yen in US trade. In early Tokyo trade, the dollar briefly fell near the 102-yen mark but had rebounded by late morning. Support for the dollar was firm as there were plenty of players, including importers, willing to buy on dips amid the recent rally, brokers said.

Major currencies flat amid dull US data

Agence France-PresseMay 16, 2013 18:45

The dollar, euro and yen traded broadly flat Thursday, despite fresh data signaling Japan's exit from recession and US numbers that underscored that underscored weaknesses in the US economy. At 2200 GMT, the euro was at $1.2886, compared to $1.2884 late Wednesday. The dollar was at 102.22 yen compared to 102.23 yen, while the euro was unchanged at 131.72 yen. The yen failed to hold onto early gains that followed official data in Tokyo showing Japan's economy exited from recession in the first quarter, expanding 0.9 percent from the previous quarter.

Loonie falls amid weak U.S. economic data, BoC paper on monetary policy

The Canadian PressMay 16, 2013 10:01

TORONTO - The Canadian dollar was ended lower Thursday amid a round of disappointing U.S. economic reports and a commentary on monetary policy from the Bank of Canada. The loonie fell 0.19 of a cent to 98.12 cents US. Bob Gorman, a senior portfolio strategist with TD Wealth, said the loonie is on a downwards trajectory. "We feel the loonie will likely lose some altitude, reflecting some lower economic growth we see south of the border, Canada's trade numbers ... (and not) a lot of support from commodities," he said.

Toronto, NY markets end mixed amid weak U.S. jobless claims, housing figures

The Canadian PressMay 16, 2013 10:01

TORONTO - The Toronto Stock Exchange closed higher Thursday despite a pullback on Wall Street amid a round of disappointing reports that suggested the U.S. economy is not recovering as much as some would like to believe. The S It was a different story on Wall Street, where the Dow Jones index retreated 42.47 points to 15,233.22 and the S

Arizona governor vetoes bill making gold, silver legal tender

Thomson ReutersMay 15, 2013 12:34

By Tim Gaynor PHOENIX (Reuters) - Arizona Governor Jan Brewer vetoed a measure on Thursday that would have made gold and silver legal tender in the state, saying the legislation could have resulted in lost tax revenue. The Republican-controlled state legislature voted through the measure last month in a response to what backers said was a lack of confidence in the international monetary system.

Canadian dollar headed lower amid softening copper prices, European markets

The Canadian PressMay 15, 2013 09:53

TORONTO - The Canadian dollar headed lower Wednesday due to softening world markets and commodity prices, particularly copper. The loonie was down 0.05 of a cent to 98.28 cents US. The price of July copper dipped two cents to $3.27, signalling a weakening outlook for China and Europe and leaving the Canadian dollar vulnerable to more declines. The loonie was close to parity with the U.S. greenback last week. The June crude contract was down 98 cents to US$93.23 a barrel, while June gold bullion fell $29.60 to US$1,394.90 an ounce — its lowest price in a month.

Hong Kong shares close up 0.47%

Agence France-PresseMay 13, 2013 16:35

Hong Kong shares finished 0.47 percent up Friday, in line with a rise on the Shanghai stock market and after impressive gains on the Tokyo bourse fuelled by the dollar's surge past the 100-yen mark. The benchmark Hang Seng Index added 109.74 points to end at 23,321.22 on turnover of HK$55.55 billion ($7.26 billion). Earlier in the day, Tokyo stocks jumped 2.03 percent to their highest level in over five years after the dollar surged above the 100 yen mark for the first time since April 2009.