CANADA STOCKS-TSX set to open lower as fears for recovery grow

Fri Aug 20, 2010 8:58am EDT
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Aug 20 (Reuters) - Toronto's main stock index could open lower on Friday, tracking global equity markets, as weaker-than-expected U.S. economic data this week reinforced fears of a faltering recovery.


* Canadian equity futures <0#SXF:> pointed to a lower open.

* A spike in energy costs and a new consumption tax in some provinces pushed up Canada's annual inflation rate to 1.8 percent in July from 1.0 percent in June, but still put little pressure on the central bank to raise interest rates. [ID:nN20500487]

* The Canadian dollar fell to a one-month low versus the U.S. dollar on Friday as Canadian inflation data came in below market expectations and as high-yielding currencies came under broad selling pressure. [CAD/]

* U.S. stock index futures fell on Friday, tracking global equity markets lower. [.N]

* European stocks fell with financial and mining shares among the top losers.

* Asian stocks were also down and the yen threatened to hit 15-year highs as investors sold higher-yielding currencies on risk aversion