Canada’s main stock index bounced between gains and losses for another trading session on Tuesday, before settling in the green. Energy led the leaders for the TSX while industrials sat at the forefront of losses followed by the mining sector. A surprising relief in domestic headline inflation, down 2.8 per cent in February, from 2.9 per cent the month before, which raised hopes of early interest rate cuts by the Bank of Canada. Japan’s Nikkei index ended above 40,000 after its central bank raised interest rates for the first time since 2007.
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U.S. traders watched developments in Washington as the Federal Reserve began its policy meeting this week, awaiting guidance on the monetary policy path ahead. The tech-heavy NASDAQ was given some help thanks to gains from the likes of chipmaker NVIDIA, which unveiled a new flagship AI product.
The Canadian dollar traded for 73.71 cents compared with 73.86 cents U.S. on Monday.
U.S. crude futures traded $0.84 higher at $83.56 a barrel, and the Brent contract added $0.52 to $87.41 a barrel.
The price of gold was down US$4.09 to US$2,157.69.
In world markets, the Nikkei was up 263.16 points to 40,003.60, the Hang Seng was down 207.64 points to 16,529.48, the FTSE was up 14.80 points to 7,737.35 , and the DAX was up 55.45 points to 17,988.13.
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