By MarketsFarm
WINNIPEG, Oct. 21 (MarketsFarm) The Canadian dollar was steady on Monday morning, as Canadians head to the polls to elect a new federal government.
At 8:15 CDT, the Canadian dollar was at US$0.7627 or C$1.3111, which compares with Friday’s North American close of US$0.7615 or C$1.3132.
Investors are watching Canadian election results closely as some alarm bells have been rung regarding an upcoming recession. In particular, troubling economic data from China and the United States have sparked concerns for Canada’s economy. The country’s economy has contracted for two consecutive quarters in 2019, but job growth remained strong. In September, the Canadian job market added 53,700 jobs to the economy.
The TSX gained at 8:45 CDT, up 47.19 points at 16,422.31. The S&P 500 Index was up 15.15 points to hit 3,001.30. Similarly, the Dow Jones gained 34.46 points at 26,808.57. The NASDAQ increased, up 55.13 to hit 8,144.58.
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