Despite pull-down from technology and industrial shares, Canada’s main stock index rose on Monday. Gains among mining companies helped cap losses. This comes ahead of a key inflation reading later this week from the United States that could test investors’ expectations of interest rate cuts.
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As traders gear up for fresh inflation data, the recent rally that brought major U.S. averages to record highs seems to have cooled off.
The Canadian dollar traded for 74.16 cents compared with 74.13 cents U.S. on Friday.
U.S. crude futures traded $0.057 higher at $78.08 a barrel, and the Brent contract gained $0.33 to $82.41 a barrel.
The price of gold was down US$0.83 to US$2,181.49.
In world markets, the Nikkei was down 868.45 points to 38,820.49, the Hang Seng was up 234.18 points to 16,587.57, the FTSE was up 4.87 points to 7,664.61, and the DAX was down 68.24 points to 17,746.27.
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