TORONTO — Canada's main stock index closed lower Friday on broad-based losses, while U.S. stock markets also closed down despite earlier gains.The Canadian market was showing some pressure after lukewarm growth indications.
The pace is off some of the gains in earlier months this year as consumers pull back, said Hadiza Djataou, portfolio manager of global bonds at Mackenzie Investments. "I don't necessarily feel that it's increased the chances, but at least it hasn't decreased the chances significantly of seeing cuts." "We see the loonie significantly lower from here. We expect the currency to reflect the growth environment especially versus the U.S."
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