Despite an early jump in copper prices, Canada’s main stock index lost ground on Monday as resource stocks fell. Investors await key economic data later this week to assess this year’s interest rate cut trajectory.
U.S. markets were divided as the Dow left behind its best weekly performance of the year last week to end in the red. Traders turn their attention to April’s consumer price index report due out on Wednesday and hope that a return to rate hikes likely won’t happen.
The Canadian dollar remained at 73.15 cents U.S.
U.S. crude futures traded $0.94 higher at $79.20 a barrel, and the Brent contract added $0.67 to $83.46 a barrel.
The price of gold was down US$23.45 to US$2,336.99.
In world markets, the Nikkei was down 49.65 points to 38,179.46, the Hang Seng was up 151.38 points to 19,115.06, the FTSE was down 18.77 points to 8,414.99, and the DAX was down 30.63 points to 18,742.22.
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