A decline in copper and oil prices weighed Canada’s main stock index lower on Tuesday down to a low point not seen in a month. The TSX fell to 21,828.40 during trading. Investors now look to the verdict from the Bank of Canada’s next policy meeting on Wednesday if it will move the benchmark interest rate.
It was a better story south of the border, where the three main indices overcame a weak start to the day to come out higher. Some good news on the employment front was data from the Labor Department that showed that vacancies in April were the lowest level in more than three years at a little more than 8 million, which could influence the central bank’s next interest rate decision.
The Canadian dollar traded for 73.11 cents U.S. compared with 73.37 cents U.S. on Monday.
U.S. crude futures traded $0.90 lower at $73.32 a barrel, and the Brent contract lost $0.79 to $77.57 a barrel.
The price of gold was down US$23.21 to US$2,327.45.
In world markets, the Nikkei was down 85.57 points to 38,837.46, the Hang Seng was up 41.07 points to 18,444.11, the FTSE was down 30.71 points to 8,232.04, and the DAX was down 202.52 points to 18,405.64.
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(Top photo: File)