Equities trading in Canada’s largest centre finished lower on Tuesday under the weight of materials shares. Energy and tech carried the weight of gains. A domestic inflation data reading also alleviated some declines while lifting assurances that a June interest rate cut by the Bank of Canada could still be on the table. Statistics Canada said the Consumer Price Index rose 2.9 per cent on a year-over-year basis last month, up from a 2.8 per cent gain in February. On a seasonally adjusted monthly basis, the index rose 0.3 per cent in March.
On the second day of former President Trump’s criminal trial, the blue-chip Dow Jones Industrial Average nudged higher to snap a six-day losing streak. Treasury yields climbed as investors weighed the likely path of interest rates in a resilient economy with persistent inflation.
The Canadian dollar traded for 72.35 cents compared with 72.55 cents U.S. on Monday.
U.S. crude futures traded $0.07 lower at $85.34 a barrel, and the Brent contract lost $0.11 to $89.99 a barrel.
The price of gold was up US$23.20 to US$2,389.00.
In world markets, the Nikkei was down 761.60 points to 38,471.20, the Hang Seng was down 351.49 points to 16,248.97, the FTSE was down 150.08 points to 7,815.45, and the DAX was down 282.12 points to 17,744.46.
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