MARKETS DIP ON REPORTS AMERICA MAY LEAVE NAFTA

Jan 10, 2018

By Michael Kramer

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The Canadian dollar and the TSX fell – amid media reports that the U.S. will soon announce its intent to pull out of the North American Free Trade Agreement.

The loonie closed at 80.03 cents U.S.down 0.27 of a cent.

The S&P/TSX composite index lost 71.29 points to 16,247.95 – with industrials among the main decliners.

Separate reports from Reuters and Bloomberg say two Canadian government sources believe it’s likely that American President Donald Trump will give six-months’ notice – to withdraw from NAFTA in late January.

In New York, the Dow Jones industrial average dropped 16.67 points to 25,369.13.

Oil was up 61 cents to US$63.57 per barrel and the February gold contract gained US$5.60 to US$1,319.30 an ounce.

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