The loonie was down 0.04 of a cent to
The agency said that motor vehicle and parts dealers contributed the most in dollar terms to the decrease in overall retail sales during March, with sales declining 0.7 per cent.
On Friday, markets will look to the latest Canadian inflation data and in turn what effect the reading could have on the Bank of
Economists expect the inflation data will show that the consumer price index rose two per cent year-over-year during April, up from the 1.5 per cent reading registered in the previous month.
Meanwhile, China’s manufacturing contraction eased in May, as HSBC’s preliminary purchasing managers’ index rose to 49.7 in May from 48.1 in April. Numbers above 50 on the 100-point scale indicate expansion.
Analysts say that the improvements in both surveys suggest the Chinese government’s targeted measures to support the economy are moderating the pace of the slowdown.
On the commodity markets, copper prices rose in the wake of the Chinese manufacturing data with the July contract up
June bullion gained
July crude slipped
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