The oil-sensitive Canadian dollar seemed little affected, gaining 0.14 of a cent at 79.83 cents US.
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The Canadian dollar fell for a second-day in a row, dropping nearly a penny against the US dollar, as it continued to face pressure from weakened commodity prices. “Currencies tend to overshoot and undershoot, ” said Laura Lau, a senior portfolio manager at Brompton Group.
By contrast, the US market indexes dropped by about 0.6 per cent.
Jang said the figures from Caixin are often regarded by investors as a more reliable gauge of Chinese economic health than the official figures from government officials because it looks at small-to-medium companies rather than just only large firms.
Benchmark North American crude was up five cents at $43.70 United States a barrel. Global equities have slowed amid the uncertain outlook for growth and speculation higher interest rates in the USA will boost the dollar’s value. “If the oil prices are doing well, sentiment is better and they think the economy is doing better”.
The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index lost 157.95 points, or 1.14 percent, to close at 13,707.68 points. It briefly hit 80 cents (U.S.) on Friday but has not closed above that level since June 30. The losses were partially offset by gains in the consumer staples, utilities and real estate sectors. The Dow Jones Industrial Average added 71.50 points, or 0.4 per cent, to 17,845.14.
TORONTO, May 4 Canada’s main stock index fell to a two-week low on Wednesday as resource and financial stocks lost ground, while domestic trade data disappointed and a wildfire led to production cuts in the country’s oil sands region.
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US private sector job growth slowed in April to its weakest in three years, while Canada’s trade deficit widened in March to a record C$3.41 billion as exports sank for a second month on weak demand from the crucial USA market.
