MID-DAY: Ottawa joins NAFTA overhaul talks in Washington; BMO reports high earnings in latest quarter
As Canada officially joins trade talks with the US and Mexico, Bay Street is seeing some volatility.
The TSX opened higher but is sliding with weight from financial and industrial sectors, down 100 points to 16,344.
Canada’s Foreign Affairs Minister is travelling to Washington today to break into the NAFTA overhaul discussion between Mexico and the US. The US Treasury Secretary is also giving a rosier outlook than Trump, stating he believes a deal with Canada can be reached this week.
This is giving life to the Loonie as it rallies to 77.43 cents US.
Across the border, the Dow is gaining strength from all the positive trade talks, growing 53 points to 26,102.
Back in Canada, BMO is reporting in with a better than expected earnings, with a profit of $1.54 billion in its latest quarter. Experts say a lot of the gains came from its US operations.
US crude continues to bounce back and forth, currently gaining to 68.97 a barrel.