Futures for Canada’s resource-heavy main stock index stretched its four-day winning streak to five on Thursday, even as energy shares tracked weakness in crude prices on slowdown worries fueled by central banks’ “hawkishness”.
Ahead of a key interest rate decision by the European Central Bank, policy tightening exacerbated recession fears across the globe. Fuelled by central banks’ aggressive moves, commodities were weighed down, raising concerns around demand, as oil and metal prices fell on worries about slowdown in production.
Wall Street futures moved higher as electric automaker Tesla topped analysts’ profit target, though futures tracking the Dow struggled for direction during the day before closing in the green.
Today in the Markets
The Canadian dollar traded for77.59 cents US compared to 77.64 cents US on Wednesday.
US crude futures traded 3.60 per cent lower at $96.28 a barrel, while the Brent contract lost 2.77 per cent to $103.80 a barrel.
The price of gold was up US$22.87 to US$1,718.87.
In world markets, the Nikkei was up 122.74 to 27,803.00, the Hang Seng was down 315.59 points to 20,574.63, the FTSE was up 6.20 points to 7,270.51, and the DAX was down 35.34 points to 13,246.64.
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