Markets

TSX May Start Higher As Weak Dollar Boosts Commodity Prices

Following a long weekend, Canada's benchmark index may start a full trading week with gains, as a weakening U.S. dollar helps lift prices of dollar-denominated commodities.

Stock futures for the June quarter on the S&P TSX index were ahead 0.30%.

The greenback eased recently, following Friday's report of slower-than-expected growth in U.S. non-farm payrolls. Data showed an increase of 126,000, which is below the 245,000 that economists had expected. As a result, gold prices moved further above the US$1,200-per-ounce mark, while Brent crude hovered above US$56-per-barrel levels. Oil prices were also drawing strength from Saudi Arabia's move to increase prices for crude sales to Asia for the second month.

The TSX gained 84 points at closing on Thursday to close the session above 15,000 levels.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More