The loonie dropped 0.46 of a cent to
Economists will look to see if the central bank continues to flag concerns about low inflation being the No.1 concern since inflation has been heading higher recently.
On Sunday, the
And in the U.S., the
The American report raised hopes for a strong economic rebound in the second quarter.
Hopes have been particularly high for a rebound after data released last week showed that the U.S. economy contracted by a larger than expected one per cent in the January-March period, due in large part to severe winter weather.
Meanwhile, copper prices got a lift from strong Chinese manufacturing data.
The July copper contract was up
Elsewhere on the commodity markets, July crude in
July bullion headed
It is widely expected that
Traders also looked ahead to other key domestic data coming out this week.
Canadian job figures for May come out Friday and economists expect about 21,000 jobs were created after the economy shed 29,000 the previous month.
In the U.S., economists also forecast another month of strong job gains. They expect the U.S. government's non-farm payrolls report coming out Friday will show that the American economy cranked out about 219,000 jobs following a much stronger expected 288,000 gain in April.
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