Loonie closes higher amid weatherimpacted housing data interest rate forecasts

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – The Canadian dollar closed higher Tuesday as traders speculated about the pace of U.S. interest rate hikes and digested data showing how severe winter weather has impacted the American housing sector.The loonie was up 0.28 of a cent at 89.61 cents US.Charles Plosser, president of the Philadelphia Federal Reserve Bank, told CNBC he sees the federal funds rate at three per cent at the end of 2015 and four per cent at the end of 2016.The current target range for the federal funds rate is between zero and a quarter point.Federal Reserve chairwoman Janet Yellen caught markets unawares last week when she said that the Fed could start upping rates from near zero six months after the end of its bond buying program.Plosser said the reaction of the markets surprised him, adding that Yellen’s timetable “wasn’t a wildly unexpected timeframe”.Cold weather continued to limit buying last month as U.S. new home sales dropped by 3.3 per cent in February.The S&P/Case-Shiller 20-city composite also indicated that U.S. home prices ticked down 0.1 per cent in January in a third month of declines, with 12 of 20 tracked cities posting drops. On a seasonally adjusted basis, home prices in January rose 0.8 per cent.Elsewhere on the economic front, business confidence in Germany has slipped back from a 2 1/2-year high as tensions over Ukraine cloud companies’ outlook for the next six months. The Ifo institute said its monthly confidence index dropped to 110.7 points this month from 111.3 in February. That was slightly worse than the 110.9 economists had predicted.German Chancellor Angela Merkel has stressed that she wants a diplomatic solution to the crisis over Russia’s actions in Ukraine but has made clear she won’t shy away from economic sanctions if the situation there escalates.Commodities were higher as May crude on the New York Mercantile Exchange erased early gains to decline 41 cents to US$99.19 a barrel.April gold bullion inched up 20 cents to US$1,311.40 an ounce while May copper was up six cents to US$3.01 a pound. A Canadian dollar, or loonie, sits on top of its American counterpart in Toronto on Sept. 20, 2007. THE CANADIAN PRESS/Adrian Wyld Loonie closes higher amid weather-impacted housing data, interest rate forecasts by Malcolm Morrison, The Canadian Press Posted Mar 25, 2014 6:29 am MDT read more

BearsGiants Preview Capsule

CHICAGO BEARS (8-3) at NEW YORK GIANTS (3-8)Sunday, 1 p.m. ET, FoxOPENING LINE — Bears by 4 1/2RECORD VS. SPREAD — Bears 8-3, Giants 6-5SERIES RECORD — Bears lead 33-23-2LAST MEETING — Giants beat Bears 22-16, Nov. 20, 2016LAST WEEK — Bears beat Lions 23-16; Giants lost to Eagles 25-22AP PRO32 RANKING — Bears No. 5; Giants No. 27BEARS OFFENSE — OVERALL (21), RUSH (15), PASS (20)BEARS Defence — OVERALL (4), RUSH (2), PASS (10)GIANTS OFFENSE — OVERALL (20), RUSH (29), PASS (12)GIANTS Defence — OVERALL (23), RUSH (26), PASS (18)STREAKS, STATS AND NOTES — NFC North-leading Bears aim for sixth straight win. 8-3 record is best since 2012, also 8-3. … Winning streak, which included three Ws in 12 days, is longest since six in ’12. … Bears have QB question with Mitchell Trubisky nursing shoulder injury. Chase Daniel started against Lions, going 27 for 37 for 230 yards with two touchdowns and no interceptions. … Bears lead NFL with fewest first-half points allowed (64). … WR Allen Robinson has four TD catches in last six games. … Team leads NFL in 20 interceptions and tied for lead with 16 forced fumbles. Fourth in sacks with 34. … LB Khalil Mach had sack, forced fumble and recovery against Giants last season, playing for Oakland. In his last four on road, he has three sacks, two forced fumbles and 27-yard interception return for touchdown. … S Eddie Jackson has three touchdowns in last four outings, including interception returns in last two. … Giants have won three of last four against Bears. … QB Eli Manning is 62 of 86 for 716 yards, six TDs, one interception in last three games. … RB Saquon Barkley is one of four rookies in NFL history with touchdowns rushing and receiving in consecutive games. He has 100-plus yards from scrimmage in 10 of 11 games. Barkley ranks third in NFL with 1,410 yards from scrimmage. … WR Odell Beckham Jr. leads team with 74 catches for 1,017 yards, 13.7 yard average. Barkley is second with 71 catches. … Landon Collins leads NFL safeties with 91 tackles. … Offense has allowed 38 sacks and defence has 14 sacks. Sacks allowed tied for second worst and sacks for is second worst. … Fantasy tip: With Giants’ run defence struggling, Bears RB Jordan Howard has three TDs rushing in last four on road. Since 2016, he ranks third in NFL with 2,971 yards rushing.___More AP NFL: https://apnews.com/NFL and https://twitter.com/AP_NFLThe Associated Press read more