HomeEconomyTSX falls most in 3 months, Canadian dollar slips as oil slumps Economy TSX falls most in 3 months, Canadian dollar slips as oil slumps By farahat September 23, 2022 0 153 views Share FacebookTwitterPinterestWhatsApp copper -3.% Add to To Watchlist/Remove from Watchlist Add to watch list Add Location Job added successfully: Please name your portfolio type: purchaseSell date: ) quantity: price Point value: Leverage: 1:1 1: 1: 1: 1: 50 by Fogel Smith TORONTO (Reuters) – Canada’s resource-intensive major regional stock index posted its biggest decline in more than three months on Friday, with the Canadian dollar extending recent losses as oil prices tumbled and investors grew increasingly concerned about the global economic outlook. Toronto Stock Exchange’s S&P/TSX combined site index ends 73. points, or 2.8%, at ,73.11, the biggest drop since June and its lowest closing level in more than two months. Wall Street’s main indexes also closed sharply lower, but not as much as the Toronto market. [.N/C] forward week, as concerns over the impact of central bank tightening overshadowed domestic inflationary pressures Data, the Toronto Stock Exchange fell 4.7%. The index fell about % is below the record closing high in March. “We are aware of a general slowdown in the global economy,” said Philip Petursson, chief investment strategist at IG Wealth Management. “This is causing commodity prices to soften.” Oil prices closed down 5.7% to $10.36 One barrel, one eight-month low, the dollar hit its highest level in more than 20 years, while 080 Copper and Gold price drop. The energy sector in Toronto fell 7.8%, while materials stocks including precious and base metal miners and fertilizer companies fell 4.5%. These two groups together almost account for % TSX weight. Domestic data showed retail sales fell 2.5% in July, beating expectations, suggesting the Bank of Canada rate hike is slowing consumer spending . This added pressure on the Canadian dollar. It was down 0.7% at 1 point. 080 against the US dollar, or. cents, after touching its lowest since July After intermediate level 74 at 1.100. Meanwhile, Canadian bond yields Rates have retreated on a mostly flat curve. This – down 4.8 basis points year over year to 3. 50%, revealing part of the uptrend since June . The rise in yields in recent weeks could make bonds “an attractive opportunity down the road to months,” Petursson said. “While yields can continue to rise, the coupons you see will absorb at least some of it.” 100 Share FacebookTwitterPinterestWhatsApp Previous articleGM reaches deal with Hertz to deploy up to 175,000 electric vehiclesNext articleWeek 3 Fantasy Football Rankings: Flex (RB/WR/TE) farahat RELATED ARTICLES Economy Philippines eyes maiden sukuk issue in November October 1, 2023 Economy Credit Suisse, Mozambique secure out-of-court ‘tuna bond’ settlement October 1, 2023 Economy US Congress averts government shutdown, passing stopgap bill October 1, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Judge: Yankees need new ideas, more urgency in ’24 October 1, 2023 Qualcomm introduces next-gen AR/VR platforms Snapdragon XR2 Gen 2 and AR1 Gen 1 October 1, 2023 The Devil is a Part-Timer Season 3 ‒ Episode 24 October 1, 2023 Philippines eyes maiden sukuk issue in November October 1, 2023 Load more Featured NEWS Samsung Galaxy Buds2 Pro receive their first software update October 5, 2022 Pierpaolo Piccioli on “Forever Valentino” opening this week in Doha, a dramatic and comprehensive exhibition exploring the brand's norms and values September 26, 2022 Enjoy At the best Nz kitty glitter igt online casinos Online casinos For real Money November 17, 2022 Jury picks trial for former Blue Bell president; debate begins today August 26, 2022 Load more
