CANADA STOCKS-TSX may open lower on weak commodities, U.S. data

Wed Oct 27, 2010 8:57am EDT
 
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Oct 27 (Reuters) - Toronto's main stock index could open lower on Wednesday, hurt by a decline in commodity prices and U.S. data showing durable goods orders rose more than expected, but fell when transportation equipment was excluded.

FACTORS TO WATCH

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

* The Canadian dollar slipped further against the U.S. dollar on Wednesday as the greenback rose broadly on speculation the U.S. Federal Reserve would take a gradual approach to quantitative easing next week. [CAD/]

* U.S. stock futures fell after durable goods orders rose more than expected in September, but fell when transportation equipment was excluded. [.N]

* European stocks were marginally higher, helped by strong bank results, as investors assessed whether improving sentiment might cause the U.S. Federal Reserve to be less aggressive in monetary easing. [.EU]

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.62 percent in early trade.

* Oil fell below $82 a barrel, snapping a three-day rally as mounting doubts about the size and timing of U.S. economic stimulus pushed up the dollar. [O/R]   Continued...