TSX Likely to Tumble As Commodities Slide

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Canada's benchmark index looked set for losses on Friday, pressured by the weakness in precious metal and oil prices .

Action Economics ( AE ) said losses in crude prices have been accelerating into the weekend, impacted by a broader risk-off theme in global markets. Other commodity prices, stock markets, and emerging market currencies were all coming under pressure on concerns about the US Federal Reserve tightening and US trade protectionism.

Meanwhile, AE also said gold futures added to earlier losses following the hotter PPI outcome, trading to near one-month lows of US$1,211.40. Firmer yields, a higher dollar, and expectations for a December Fed rate hike have all conspired against gold prices .

The TSX lost 11 points on Thursday, led lower by energy stocks.

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

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This article appears in: Investing , Stocks
Referenced Symbols: AE

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