CANADA STOCKS-TSX may open lower after reaching 2-year high
Nov 8 (Reuters) - Toronto's main stock index looked set to open lower on Monday after hitting its highest level since September, 2008 on Friday, as a firmer U.S. dollar put downward pressure on commodity prices.
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a lower open.
* U.S. stock index futures fell as a rise in the U.S. dollar weighed on commodity prices and looked set to put pressure on natural resource stocks. [.N]
* European shares slipped back as investors paused for breath after a key market index hit a six-month high on Friday, with chartists suggesting that stocks now looked overbought.[.EU]
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was little changed in early trade.
* Oil prices touched two-year highs of $87.49 a barrel, before easing towards $86 a barrel as a stronger dollar prompted profit-taking. [O/R]
* Gold eased for the first time in three sessions but remained near record highs after a pick-up in the dollar dented precious metals prices. [GOL/] Continued...