By Commodity News Service Canada
WINNIPEG, Jan. 22 (CNS Canada) – The Canadian dollar and the major North American markets are down Tuesday morning amid concerns of a global economic slowdown.
At 8:55 CST Tuesday morning the Canadian dollar was at US$0.7492 or C$1.3344, which compares with Monday’s North American close of US$0.7520 or C$1.3297.
A report from International Monetary Fund, released on Monday, forecast global economic growth to slow to 3.5 per cent in 2019. That’s a reduction of 0.2 per cent from a previous IMF forecast released in October.
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The TSX/S&P Composite Index was down 105.11 points Tuesday morning at 15,249.05.
In the United States, the Dow Jones dropped 158.79 points to start Tuesday at 24,547.56. Also down were the S&P 500 by 17.69 points to 2,653.02 and the NASDAQ fell 51.96 points to 7,105.27.
Oil prices are down by US$1.11 Tuesday morning. West Texas Intermediate crude is at US$52.93 per barrel after closing Friday at US$53.80. There was no trading of WTI on the U.S. markets on Monday due to the Martin Luther King Jr. holiday.
Gold is down by 80 cents Tuesday morning to US$1,281.80 per ounce.
