By MarketsFarm
WINNIPEG, June 18 (MarketsFarm) The Canadian dollar was steady on Tuesday morning. Global stocks remained optimistic following an announcement from the European Central Bank that they may cut rates to stimulate the global economy.
At 8:45 CDT Tuesday morning, the Canadian dollar was at US$0.7453 or C$1.3417, which compares with Monday’s North American close of US$0.7459 or C$1.3407.
The Federal government will announce whether or not the Trans Mountain pipeline will be expanded today after markets close. Experts speculate a complete rejection of the project is unlikely, due to the amount of time and resources already invested in the expansion. The pipeline is thought of as a solution to “constrained pipeline capacity” and typically low prices for Canadian oil, according to the CBC.
The TSX gained at 8:45 CDT, up 128.30 points at 16,481.75. The S&P 500 Index was up 16.48 points to hit 2,905.60. Similarly, the Dow Jones gained 153.44 points at 26,266.03. The NASDAQ gained 72.93 to hit 7,920.73.
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