The 2012 lucky loonie is pictured in Calgary, July 19, 2012. THE CANADIAN PRESS/Jeff McIntosh
May 14, 2013 - 5:51 AM
TORONTO - The Canadian dollar fell Monday as commodities continued to trade lower after beginning the week in negative territory.
The loonie was down of 0.36 of a cent to 98.55 cents US.
The June crude contract was down 58 cents to US$94.59 a barrel and June gold bullion dropped $12.50 to US$1,421.80 an ounce. July copper dipped eight cents at $3.28 a pound.
Overseas markets showed little reaction to a surprising one per cent rise in industrial production among the 17 European Union countries that use the euro.
The figure raised some expectations that the recession in the eurozone may have ended. The first estimate of the region's gross domestic product in the first three months is due for release Wednesday.
Germany's DAX fell 0.1 per cent to 8,271 while the CAC-40 in France was 0.4 per cent lower at 3,931. The FTSE 100 index of leading British shares was down 0.1 per cent to 6,623.
Earlier in Asia, Japan's Nikkei 225 index fell 0.2 per cent to close at 14,758.42 — a modest retreat following two spectacular sessions that have seen the index rise to five-year highs.
The index has soared more than 42 per cent since the beginning of the year as the yen dropped sharply in response to the Bank of Japan's aggressive monetary stimulus program.
South Korea's Kospi added 1 per cent to 1,968.83 while Hong Kong's Hang Seng shed 0.3 per cent at 22,930.28. In mainland China, the Shanghai Composite Index fell 1.1 per cent to 2,217.01. The Shenzhen Composite Index fell 1.4 per cent 960.81.
News from © The Canadian Press, 2013