TSX Set for Higher Start As Gold, Oil Prices Rise
Canada's benchmark index looked set to open higher on Monday, lifted by rising gold and oil prices .
Stock futures for the September quarter on the S&P TSX index were up 0.01% recently.
Action Economics said a bout of US dollar selling has supported oil this morning. However, with global production at record levels and demand growth forecasts on the decline, upside progress may be limited going forward. One caveat, however, is US sanctions on Iran will likely impact Iran's ability to get its oil to market. It remains to be seen if other producers will be able to make up the difference.
Gold also received a boost from the weakness in the greenback.
The TSX gained 11 points on Friday, led higher by healthcare and financials.
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