By MarketsFarm
WINNIPEG, Dec. 16 (MarketsFarm) The Canadian dollar was stronger on Monday morning, as stock indexes started the week on a higher note.
At 8:20 CST, the Canadian dollar was at US$0.7619 or C$1.3125, which compares with Friday’s North American close of US$0.7586 or C$1.3183.
Stocks were higher due to global optimism following a trade agreement between the United States and China. The yet-to-be-signed deal includes the U.S. reducing tariff rates on US$120 billion worth of Chinese imports, while maintaining a 25 per cent tariff on about US$250 billion worth of Chinese goods. Beyond that, details of the deal are scarce.
Oil prices were slightly stronger on the heels of the trade deal. Brent Crude was up by 21 cents at US$65.43 per barrel, and West Texas Intermediate (WTI) was up by three cents at US$60.10 per barrel.
The TSX was slightly stronger at 8:30 CST, up by 52.06 points at 17,055.19. The S&P 500 Index was up 0.23 points to hit 3,168.80. The Dow Jones gained 3.33 points at 28,135.38. The NASDAQ increased, up 17.56 to hit 8,734.88.
END
