TSX Index gains after BoC‘s expected rate hike, loonie jumps by 0.25%

September 08, 2022 05:13 PM AEST | By Kajal Jain

TSX Index gains after BoC‘s expected rate hike, loonie jumps by 0.25% — Image source: © Ashdesign | Megapixl.com

Volume Active

Suncor (TSX:SU) saw about 19.33 million SU shares switching hands, marking the highest trading volume on the Toronto Stock Exchange (TSX) this day. Barrick Gold (TSX:ABX) and Canadian Natural Resources (TSX:CNQ) were the second and the third highly traded stocks on September 7, with 8.41 million ABX shares and 7.2 million CNQ shares switching hands, respectively.

TSX Index gains after BoC ‘s expected rate hike, loonie jumps by 0.25%

Wall Street update

In the US stock market, the NASDAQ Composite Index surged by 2.13 per cent and the NYSE Composite Index scaled up by 1.45 per cent. The Dow Industrials index saw an increase of 1.4 per cent along with the S&P 500, which also noted a jump of 1.83 per cent.

Commodities

Gold also rebounded slightly to US$ 1,727.8 per troy ounce, representing a jump of 0.87 per cent at the market close. The Crude WTI Futures for October 2022 lost 5.69 per cent, ending the session at US$ 81.94 per barrel. The Brent Oil Futures for November 2022 was US$ 88 per barrel, noting a decrease of 5.2 per cent.

Currency news

The CAD/USD gained 0.25 per cent to reach 0.76 on September 7. However, the CAD/EUR slid by 0.73 per cent to 0.76. The US Dollar Index Futures for September 2022 also closed lower at 109.83, down by 0.34 per cent.

Bond Market

Canada’s 10-Year Bond Yield slumped by 1.77 per cent to 3.16. Meanwhile, the United States' 10-Year Bond Yield depreciated by 2.5 per cent to 3.26.

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