A look at Friday morning’s market action
for another interest rate cut this year by saying that the central bank doesn’t need to rush easing monetary policy. TSX futures were down as crude prices slid.
Overseas, the pan-European STOXX 600 was down 0.39 per cent in morning trading. Britain’s FTSE 100 rose 0.07 per cent, Germany’s DAX gave back 0.05 per cent and France’s CAC 40 declined 0.12 per cent. Brent crude futures dropped 1.34 per cent to US$71.59 a barrel. West Texas Intermediate crude futures were down 1.37 per cent at US$6776. For the week, Brent is set to fall 3 per cent while WTI looked to decline almost 4 per cent.
In other commodities, spot gold was flat at US$2,566.09 an ounce after prices have fallen more than 4 per cent this week. U.S. gold futures were steady at US$2,570.80.The day range on the loonie was 71.06 US cents to 71.35 US cents in the early premarket period. The Canadian dollar was down about 1.72 per cent against the greenback over the past month.
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