Technology: North American stocks close higher, loonie climbs after inflation figures released - PressFrom - Canada
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TechnologyNorth American stocks close higher, loonie climbs after inflation figures released

00:10  16 may  2019
00:10  16 may  2019 Source:   msn.com

Canadian Dollar Headed For A Tumble As Economy Weakens, Analysts Predict

Canadian Dollar Headed For A Tumble As Economy Weakens, Analysts Predict If you've got shopping you were planning to do abroad, now may be a better time than later. A growing number of analysts are predicting that the Canadian dollar will take a dive this year, pushed downwards by a weaker-than-expected economy, with one analyst predicting it will match record lows. Analysts at TD Securities recently predicted the loonie would trade in the 71-cent to 74-cent U.S. range this year. It was trading at 75.3 cents U.S. as of Tuesday morning. "Prospects for Canadian dollar have shifted considerably to the downside over the medium-term," foreign exchange strategist Mazen Issa wrote, as quoted at CBC.

North American stocks markets pulled back from their recent significant losses, as oil prices gained Social Sharing. Canadian stocks down; loonie climbs higher . The Canadian Press · Posted: Jan In a statement, the Fed also said that it expects inflation to finally pick up this year and to stabilize

The Canadian dollar climbed versus the greenback Wednesday after Canada's central bank raised The loonie rose 0.45% against the dollar following the announcement, which economists had widely "Canada's economy continues to operate close to its capacity and the composition of growth is

North American stocks close higher, loonie climbs after inflation figures released© Provided by Canadian Press Enterprises Inc

TORONTO — The industrials and technology sectors helped Canada's main stock index close higher as U.S. stock markets also ended up.

The S&P/TSX composite index ended up 33.61 points 16,318.14.

In New York, the Dow Jones industrial average closed up 115.97 points at 25,648.02. The S&P 500 index ended up 16.55 points at 2,850.96, while the Nasdaq composite was up 87.65 points at 7,822.15.

The Canadian dollar averaged 74.34 cents US, compared with an average of 74.24 cents US on Tuesday, after Statistics Canada said the consumer price index posted a year-over-year increase of two per cent last month.

Statistics Canada says inflation ticks higher

Statistics Canada says inflation ticks higher Statistics Canada says inflation ticks higher

North of the border, Statistics Canada released disappointing figures on both the inflation and retail sales front. The federal agency said Canada’s annual inflation rate was 1.1 per cent last month, largely due to lower fuel prices. That compares with a 1.3 per cent year-over-year increase in July.

Strength in the energy sector helped push Canada's main stock index to triple-digit gains Thursday as worries about a trade war between China and the United States eased. "What we're seeing today is really some encouraging developments on the whole U.S.-China debacle," said Candice Bangsund

The June crude contract closed up 24 cents at US$62.02 per barrel and the June natural gas contract was down six cents at US$2.60 per mmBTU.

The June gold contract was up US$1.50 at US$1,297.80 an ounce and the July copper contract was up two cents at US$2.74 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

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North American stocks up in late-morning trading, loonie trades up.
North American stocks up in late-morning trading, loonie trades up

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