Bay Street Seen Opening On Mixed Note

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(RTTNews) - Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks.

Gold and silver prices have moved higher, while oil prices are down on demand concerns.

The focus, once again, will be on trade negotiations between the U.S. and several other major nations.

Imperial Bank of Commerce announced the public offering in the United States of US$750 million of 7.000% Fixed Rate Reset Limited Recourse Capital Notes Series 7 (Non-Viability Contingent Capital (NVCC)) or the "LRCNs". CIBC said it expects to use the net proceeds from the sale of the LRCNs for general corporate purposes, which may include the redemption of outstanding capital securities of CIBC, and/or the repayment of other outstanding liabilities of CIBC.

The Canadian market closed modestly higher on Wednesday, supported by gains in the mining sector, despite the US President Donald Trump getting aggressive with tariff imposition.

Trump's announcement of an additional 10% tariff on the 11-member BRICS nations as well as his plans to impose 50% and 200% levies on Copper and pharmaceutical imports to the US, respectively, has raised concerns on the trade front.

The benchmark S&P/TSX Composite Index reached an intraday high of 27,018.54 after noon, and settled at 26,972.32, up by 68.75 or about 0.26%.

Asian stocks ended Thursday's session mostly higher, unfazed by U.S. President Donald Trump's latest tariff salvos.

After threatening tariffs on copper and pharma, Trump upped the stakes in his global trade war with a fresh round of tariffs on imports from eight nations.

He imposed a 50% tariff on Brazilian imports over Jair Bolsonaro's prosecution, prompting sharp retaliation from President Lula.

The major European markets are up firmly in positive territory amid rising optimism about the European Union striking a trade deal with the U.S. in the coming days.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.28 or 0.41% at $68.10 a barrel.

Gold futures are gaining $14.40 or 0.43% at $3,335.40 an ounce, while Silver futures are up $0.385 or 1.05% at $37.015 an ounce.

Antipodean Currencies Fall Amid Risk-off Mood

The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Tuesday, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation.

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NZ Dollar Slides Against Majors

The New Zealand dollar weakened against other major currencies in the Asian session on Tuesday.

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Australian Dollar Falls Against Majors

The Australian dollar weakened against other major currencies in the Asian session on Tuesday.

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European Shares Poised For Weak Start As Fed Rate Cut Hopes Fade

European stocks may drift lower on Tuesday as investors fret about Fed independence and await Nvidia earnings due Wednesday for guidance and signs the AI market remains robust.

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Sensex, Nifty Deep In The Red On Tariff Worries

Indian shares opened on a sluggish note on Tuesday after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports, with the punitive duties set to kick in at 12:01 am (EST) on August 27.

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Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

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Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

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Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

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EURUSD	1.16206	GBPUSD	1.3461	AUDUSD	0.64753
USDJPY	147.625	USDCAD	1.38586	USDCHF	0.80599