Trade tensions took their toll on the loonie today, but the effects didn’t seem to spill over onto Canada’s main stock market.
Despite the wide-ranging issues a trade war between Canada and the United States would cause, the TSX closed 60 points higher to 16,263. Cannabis stocks helped power the gain as the sector is getting a lift from legalization taking another step forward. On the other hand, the loonie was as low as 76.75 cents U.S. today. In afterhours trading it’s sitting at 77 cents, down four tenths of a cent.
On Wall Street it was a flat day with the Dow Jones closing at 25,322, up just five points as investors await a likely interest rate hike by the Fed on Wednesday. At press time oil is up 30 cents to $66.04 U.S. per barrel and gold is up $1.70 to $1304.40 an ounce.
