TSX Closes With Crash Bang At Session Lows; Euro Slide Vs U.S. Dollar Makes Buying Commodity Related Stocks Expensive

By Midnight Trader,  July 05, 2012, 04:04:14 PM EDT

Canada's main stock market spent the whole of Thursday in negative territory and finished with a crash bang - down nearly 100 points at session lows - on negative sentiment after central banks in Europe, England and China moved to try and reawaken their respective sleepy economies. Maybe good ideas in principle, but it gave investors little cause to go out and celebrate by buying stocks on the resources heavy TSX.

In particular, commodity prices slumped along with the euro currency after the European Central Bank cut its main interest rate to a record low and reduced its deposit rate to zero in a bid to tackle the euro zone debt crisis. The fall in the euro against the greenback made it more costly for many investors to buy commodities priced in dollars.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



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