Canadian dollar heads higher amid positive but muted Chinese data

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Canadian dollar heads higher amid positive, but muted Chinese data by Linda Nguyen, The Canadian Press Posted Jul 10, 2014 7:23 am MDT TORONTO – The Canadian dollar rose Thursday amid positive if lacklustre economic data from China and a slight increase in oil prices.The loonie gained 0.11 of a cent to 93.92 cents US.Overnight, China reported that its June exports grew 7.2 per cent in dollar terms from a year earlier, accelerating slightly from May’s seven per cent growth.The advance was a small sign of improvement for the world’s second-largest economy, but still left concerns over the country’s uneven recovery as imports remained muted amid weak domestic demand.“There’s a bit of optimism with China’s customs office expecting exports growth to accelerate in the third quarter. Imports could also pick up based on improving signs of manufacturing and services activity in the past two months,” said Ryan Huang, a market strategist at IG, said in a commentary.Meanwhile, Statistics Canada says its new housing price index rose 0.1 per cent in May, largely due to higher new home prices in the Prairie region. The Calgary area, where prices rose 0.8 per cent, recorded the largest monthly price advance among the municipalities covered by the survey.But the most anticipated economic data to come out this week will be the Canadian jobs report on Friday.“As we continue to look for signs of economic improvement, the picture around unemployment is critical,” said Tim Caulfield, co-lead manager at Franklin Bissett Canadian Equity Fund.Statistics Canada is expected to report that about 24,000 jobs were created last month compared with 25,800 in May, with the jobless rate remaining unchanged at seven per cent.The Canadian currency continues to look for hints that the fundamentals supporting it, including oil prices, will remain strong. Despite an uptick Thursday, oil has been falling steadily for more than a week as geopolitical concerns surrounding the world’s oil supply have eased.Political strife had shut ports and disrupted oil production in Libya. But recent agreements with local militias should see those ports reopening, while production began ramping up at a major Libyan oilfield earlier this week.Still, the August crude contract on the New York Mercantile Exchange climbed 64 cents to US$102.03 a barrel on Thursday, its first increase in two weeks.August gold bullion was up $14.90 to US$1,339.20 an ounce, while September copper rose two cents to US$3.27 a pound.Follow @LindaNguyenTO on Twitter. read more

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Thousands displaced by latest fighting in DR Congo – UN agency

Some 10,000 people in the Democratic Republic of the Congo (DRC) have been forced to flee to Uganda after the latest wave of fighting between Congolese Government forces and the rebel group M23, the United Nations refugee agency said today.According to the Office of the UN High Commissioner for Refugees (UNHCR), the attacks occurred near the DRC’s border with Uganda’s south-west Kisoro district. Bombs reportedly fell very close to the border, and amid the shelling, some areas of Uganda were also hit.Yesterday morning, UNHCR began transporting refugees from the border to the Nyakabande transit centre. As of last night, more than 3,500 people have been moved, the largest number in a single day since fighting began in April last year.“Many local residents closed their homes and shops and moved away from the border area,” UNHCR spokesperson Adrian Edwards told reporters in Geneva. “Refugees arriving at the Nyakabande Transit Centre, some 20 kilometres away, told us that they had seen bodies on the DRC side.”UNHCR estimates that there are now around 8,230 people in the transit centre. The agency is providing them with shelter, emergency relief items, and food supplied by the World Food Programme (WFP). Mr. Edwards reported that many refugees are making their own way by foot to the transit centre despite cold and rainy weather, and he added that many of them are suffering from dehydration and diarrhoea.“We currently have enough emergency relief items for a population of 10,000. In addition to several hundred family tents, there are 11 communal shelters which each hold about 300 people. A 12th is being erected that will accommodate 600 people,” Mr. Edwards said. However, he added that supplying water to the centre remains a challenge as water pressure in the district is very low. “We are also facing shortages in surgical supplies due to the high number of injured we have received,” he said.The majority of those who fled are young children, and many have been separated from their parents while running from the border. Mr. Edwards said UNHCR has so far received more than 100 children arriving on their own, who are being housed separate tents.“The situation back in eastern DRC remains tense and volatile with no one prepared to return and people still crossing,” Mr. Edwards said. “Security officials report that the town of Bunagana is empty of civilians. As of this morning we are moving people by bus from Nyakabande to a refugee settlement at Rwamwanja, to the north. There they will receive more comprehensive assistance.So far this year UNHCR has assisted around 50,000 people arriving from DRC. In Uganda, Congolese refugees make up 65 per cent of the entire refugee population and the majority of these have arrived in the last three years. read more

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Hot shooting leads Creighton past Montana 9872

OMAHA, Neb. — Damien Jefferson scored 18 points, Martin Krampelj added 17 and Creighton shot 60 per cent in beating Montana 98-72 on Wednesday night.Creighton was 32 of 53 from the field, including 13 of 25 from distance, and made 21 of 30 free throws. Crieighton’s first miss did not come until the 12:10 mark of the first half and by then the Bluejays already had five 3-pointers. The Bluejays hit 29 of their first 44 shots.Mitch Ballock made four 3-pointers and scored 14 points for Creighton (6-1), which outrebounded Montana 34-20. Ty-Shon Alexander added 13 points and freshman Marcus Zegarowski had 11 points, five rebounds and six assists.Sayeed Pridgett made four 3-pointners and scored 21 of his 23 points in the first half for Montana (4-2). He also had five steals. Michael Oguine added 21 points with nine rebounds. The Grizzlies made 8 of 17 from 3-point range but were just 12 of 22 from the free-throw line.The Griz shot better than 50 per cent from the field for a fifth straight game, finishing at 55 per cent overall.The Associated Press read more

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