Global markets drifted lower Tuesday while Wall Street futures were flat as investors awaited minutes of the U.S. Federal Reserve’s latest policy meeting Wednesday to gauge the timing and extent of possible interest rate cuts this year. TSX futures were modestly lower.of whether the Bank of Canada may start cutting interest rates next month.
Overseas, the pan-European STOXX 600 slid 0.38 per cent in morning trading. Britain’s FTSE 100 fell 0.5 per cent, Germany’s DAX gave back 0.39 per cent and France’s CAC 40 retreated 0.78 per cent. Brent crude futures declined 0.8 per cent to US$83.04 a barrel and U.S. West Texas Intermediate crude eased 0.7 per cent to US$79.16.
Record highs for metals such as gold and copper “is being pointed to as a signal economic activity is improving globally, and that may be a factor keeping inflation sticky,” Mr. Rodda said.The day range on the loonie was 73.28 US cents to 73.42 US cents in the early premarket period. The Canadian dollar was up about 0.24 per cent against the greenback over the past month.
Source: News Formal (newsformal.com)
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