Commodity Prices: Stock Prices and Base Metals

commodity prices: The Canadian dollar traded higher at 76.66 cents US compared with an average of 76.54 cents US on Monday, according to The Toronto Star. Frank Gunn / THE CANADIAN PRESS The net effect was a weaker U.S. dollar, which resulted in higher commodity prices, specifically oil and base metals and to a lesser extent gold, as well as higher overall stock prices, he said. President Donald Trump talked down the U.S. dollar by comments he directed Monday towards the Federal Reserve against its interest rate hikes, said Craig Jerusalim, portfolio manager at CIBC Asset Management. By the afternoon, several sectors saw prices decrease, including financials ahead of Canadian banks beginning to report quarterly results this week. Consumer staples were down 0.42 per cent, led by a nearly two-per-cent decline by Metro Inc. and lower stock prices for Premium Brands, Saputo Inc. and George Weston. Jerusalim said expectations are that they will report growth, signalling that current valuations are appealing. (news.financializer.com). As reported in the news.