Markets on both sides of the border couldn’t extend their rally from the previous session on Thursday, however inflation appears to be cooling on the horizon. Economists are now expecting a smaller increase in interest rates come September. The industrials, tech, health care, and utilities sectors were the decliners among TSX indices.
Traders predict a 67.5 per cent chance that the U.S. Fed will hike the interest rate by 50 basis points. Data showed U.S. producer prices fell last month thanks to a drop in the cost for energy products. Japanese markets were closed for Mountain Day.
Today in the Markets
The Canadian dollar traded for 78.36 cents US compared to 78.33 cents US on Wednesday.
US crude futures traded 2.18 per cent higher at $93.19 a barrel, while the Brent contract gained 1.90 per cent to $99.25 a barrel.
The price of gold was down US$4.63 to US$1,787.09.
In world markets, the Nikkei remained at 27,819.33, the Hang Seng was up 471.59 points to 20,082.43, the FTSE was down 14.80 points to 7,588.74, and the DAX was down 6.42 points to 13,694.51.
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