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Canadian dollar rises amid positive export outlook, traders look to Poloz speech

TORONTO - The Canadian dollar was higher Thursday amid rising commodity prices and a positive outlook for exports. The loonie moved up 0.04 of a cent to 90.69 cents US. Export Development Canada says renewed strength in the United States and in emerging markets, along with a lower loonie, will trigger a rebound in the lagging export sector, particularly in automobiles, building materials and appliances. EDC chief economist Peter Hall says the volume of shipments will likely start taking off in the second half of this year and expand to 5.8 per cent growth in 2015.

Caterpillar dealer Finning International says South America was weak spot in Q1

VANCOUVER - Finning International Inc. (TSX:FTT) estimates that its first-quarter revenue will be about $1.676 billion, an increase of eight per cent from the comparable period last year. The Vancouver-based company, which is one of the world's largest distributors of Caterpillar heavy equipment, said its Canadian and European revenue was up, but its South American operations experienced a currency-related decline.

Canadian dollar drops following string of gains amid weak China trade data

The Canadian dollar closed lower Wednesday, losing some ground after a strong rally amid weak Chinese trade data. The loonie declined 0.48 of a cent to 91.5 cents US, amid data showing that China’s exports fell 6.6 per cent from a year earlier, well below analysts’ expectations of single-digit growth. Imports contracted by 11.3 per cent. In a speech Thursday, China's Premier Li Keqiang said the foundation for growth is “not strong” and the economy still faces “downward pressure.” But he ruled out additional short-term stimulus.

Loonie nears three-month high as US dollar loses position on political tensions

TORONTO - The Canadian dollar was higher again Tuesday, extending recent gains to heights not seen in nearly three months. The loonie moved up 0.39 of a cent to 91.56 cents US. The last time the loonie closed that high was on Jan. 13 when it ended the day at 92.20. Despite the currency's climb in the past few weeks after trading below 89 cents US in late March, the loonie is still short of its 2014 high of about 94 cents US, according to Bank of Canada data.

Canadian dollar holds near its highest levels since mid-February on BoC survey

TORONTO - The Canadian dollar rose slightly Monday with the help of a Bank of Canada survey that offered positive sentiments for the domestic economy. The loonie moved up 0.1 of a cent to close at 91.17 cents US. Earlier in the day, the central bank's quarterly survey of 100 companies showed that hiring intentions last month were among the most positive in almost two years amid higher sales and better prospects, with more firms reporting growth in sales in the past 12 months.

Some well-executed April Fools' Day hoaxes

TORONTO - Warning, do not trust everything you read or hear today. It's April 1, which means every headline and story should be eyed with a different level of scrutiny. Especially anything particularly quirky or jaw-dropping.

Loonie rises amid mixed U.S. data as investors wait for more hints on key rate

TORONTO - The Canadian dollar headed higher Thursday amid mixed data on whether the U.S. economic recovery remains on track. The loonie gained 0.43 of a cent to 90.65 cents US. The Commerce Department says the U.S. economy grew at a 2.6 per cent annual rate from October to December, slightly more than previously estimated, as consumer spending rose at the fastest pace in three years. Analysts had been expecting a growth rate of 2.4 per cent.

Tourism spending up one per cent in Q4, biggest rise since 2010

OTTAWA - Statistics Canada says tourism spending in Canada rose one per cent in the fourth quarter, the largest gain in three and a half years. The agency says the increase was mostly due to higher spending by Canadians travelling within the country. Those Canadian travellers spent 1.2 per cent more in the fourth quarter, marking the largest gain since the first quarter of 2011. Spending on most tourism goods and services was up in the fourth quarter.

Loonie stabilizes after big loss amid sharply different interest rate prospects

TORONTO - The Canadian dollar stabilized Thursday, a day after tumbling almost nine-tenths of a cent after the U.S. Federal Reserve suggested interest rates could be headed up sooner than thought. The loonie gained 0.02 of a cent to 88.95 cents US. Janet Yellen, chairwoman of the U.S. central bank, signalled Wednesday that the Fed could begin raising short-term rates six months after it halts its bond purchases around year’s end.

RBC sees strengthening economic growth in Canada, but loonie falling further

OTTAWA - The Royal Bank (TSX:RY) is predicting relatively strong economic growth for Canada this year and next, although it says the loonie is about to fall even further. The big bank says in a new forecast that economic growth should hit 2.5 per cent this year, despite a stuttering start to 2014 caused by the winter deep freeze, with growth picking up to 2.7 per cent in 2015. That's slightly stronger than the Bank of Canada's call for 2.5 per cent growth in both years and above many other private sector forecasts, which predict an even softer 2014.
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