Commodity FX (CAD AUD NZD NOK)

it's time to short Aussie !

on RBNZ sure!

China CPI comes early
Fri
Jun 11 3:00am CNY CPI y/y [3.1%] Expt3.0% Prev2.8%

(RTTNews) - Canadian stocks tumbled towards the close to end lower Monday, having spent most of the day struggling to stay in positive territory.

Weakness in resource stocks, industrials and banks countered advances in gold and consumer staples sectors.

The S&P/TSX Composite Index closed down 64.87 points or 0.56% at 11,504.74, extending Fridays losses and finishing at the lowest level in more than two weeks.

The main index is currently 6.3% lower from its 19-month high recorded in late-April, and 3.7% higher compared to its 2010 low.

Traders hesitated to invest in risky assets and flocked to the safety of gold as worries of a potential debt crisis in Hungary worsened concerns about European financial stability.

Even though Hungarys Economy Minister assured the country is not in need of any economic stimulus packages, his words failed to allay fears that the nation is facing a Greece-like debt crisis.

Base-metals producer Teck Resources (TCK_B.TO) fell 4.97%, lender RBC (RY.TO) lost 1.98%, while train and aircraft maker Bombardier (BBD_B.TO) surrendered 5.89%.

Suncor Energy (SU.TO) dropped 2.06%. The energy giant said its wholly-owned subsidiary Suncor Energy Products secured approval from the Alberta Utilities Commission to proceed with the development of an 88-megawatt wind power project.

Emerge Oil & Gas (EME.TO) ended lower 3.16%. The Calgary-based explorer announced plans to buy three heavy oil assets in greater Lloydminster area for $10.3 million in cash.

July crude oil settled down $0.07 at $71.44 a barrel on the New York Mercantile Exchange.

Meanwhile, Barrick Gold (ABX.TO) rose 4.30% and Goldcorp (G.TO) added 4.74% as the price of bullion rose near a record high.

August gold settled up $23.10 at $1240.80 a troy ounce on the COMEX division of the New York Mercantile Exchange, close to its all-time settlement high of $1243.10 recorded last month.

The consumer staples sector added 1.10%, with Loblaw Companies (L.TO) up 1.78% and Metro Inc. (MRU_A.TO) up 1.81%.

Among IT stocks, Research In Motion (RIM.TO) fell 5.05% and Open Text (OTC.TO) gave in 1.07%. However, CGI Group (GIB_A.TO) gained 0.43%.

In economic release from south of the border, the Federal Reserve said US consumer credit rose by $1 billion to $2.44 trillion in April, following a revised $5.4 billion drop in March. Economists had been expecting a decline of $2 billion after an increase of $2 billion originally reported for the previous month.

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