By MarketsFarm
WINNIPEG, Nov. 12 (MarketsFarm) The Canadian dollar was slightly lower on Tuesday morning, after falling nearly half a cent during the previous week.
At 8:20 CDT, the Canadian dollar was at US$0.7558 or C$1.3231, which compares with Friday’s North American close of US$0.7563 or C$1.3223. Canadian markets were closed Monday for Remembrance Day.
A recent survey from Bank of America Merrill Lynch (BAML) showed 6 per cent of hedge fund managers polled expected a stronger global economy in 2020. That’s an increase of 43 points from the October survey. The global recession outlook was improved by stock markets rallying in the fall, and lowered interest rates from the United States Federal Reserve.
Oil prices were slightly stronger following the positive outlook for the global economy. Brent Crude was up 38 cents at US$62.56 per barrel, and West Texas Intermediate (WTI) was up 34 cents at US$57.20 per barrel.
The TSX was stronger at 8:45 CDT, up by 22.28 at 16,905.36. The S&P 500 Index was down 2.29 points to hit 3,076.12. The Dow Jones gained 8.09 points at 27,692.88. The NASDAQ increased slightly, up 9.65 to hit 8,473.60.
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