Dominion Lending Centres Clearlease Reports Canadian dollar slips amid disappointing U.S. jobs data, lower oil prices

Dominion Lending Centres Clearlease Reports Canadian dollar slips amid disappointing U.S. jobs data, lower oil prices

VANCOUVER, BC (June 1, 2011) Dominion Lending Centres Clearlease Reports The Canadian dollar was slightly lower Wednesday June 1, 2011 amid lower oil prices and downbeat employment news from the U.S., Canada’s largest trading partner.

The loonie was down 0.07 of a cent to 103.17 cents US.

The Canadian currency had been higher prior to the release of data from payroll firm ADP showing that the U.S. private sector created only 38,000 jobs during April. That was far less than analyst estimates which called for about 175,000 new jobs, about the same reading as April.

The data came out two days before the release of the U.S. government’s non-farm payrolls report for May.

Economists expected that Friday’s government data will show that around 200,000 jobs were added during May, slightly down on April’s 244,000 increase.

Oil prices further weakened following the release of the ADP data after a weak U.S. dollar pushed crude up more than US$2 on Tuesday. The July contract on the New York Mercantile Exchange dipped 66 cents to US$102.04 a barrel.

Precious metal prices were slightly higher the August gold contract in New York ahead 60 cents to US$1,536.50 an ounce.

Base metals were lower after data showed China’s manufacturing sector easing in April. The state-affiliated China Federation of Logistics and Purchasing reported that its purchasing managers index, or PMI, fell to 52.9 in April, down from 53.4 in March. The July copper contract slipped four cents to US$4.14 a pound. China is the world’s biggest consumer of copper.

Investors also looked to important U.S. manufacturing data which will be released later in the morning.

Traders looked to see the Institute for Supply Management’s May manufacturing index to drop to around 57 from the previous month’s 60.4, providing further evidence that the U.S. recovery is slowing down.

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About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/ is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Twitter: @clearlease


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