CANADA STOCKS-TSX may open lower on weak commodity prices

Thu Jan 21, 2010 8:17am EST
 
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TORONTO Jan 21 (Reuters) - Toronto's main stock index could retreat further at the open on Thursday as falling prices for Canadian commodities could hurt producers on a stronger U.S. dollar and worries China will take more measures to temper growth.

But losses could be offset by fluctuating U.S. crude oil prices.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE may also follow U.S. futures lower ahead of a slew of results, including fourth quarter results from Goldman Sachs GS.N [.N].

Canadian stocks closed broadly lower on Wednesday as commodity prices fell on fears that bank lending curbs in China could slash demand, while U.S. earnings reports undermined confidence.

Here is some of the news that may affect the market:

CHINA ECONOMY SOARS

China easily beat its 2009 growth target after a blistering fourth-quarter performance that set the stage for further monetary tightening and put it on course to overtake Japan to become the world's second-largest economy. [ID:nTOE60K011]

STRONGER GREENBACK

The euro hit a five-month low against the dollar on Thursday, weighed down by concerns over Greece and other peripheral euro zone countries, and by data which pointed to possible slower growth in the currency bloc. [FRX]   Continued...