BEFORE THE BELL: Blue wave in the US drives up global stocks; Oil pulls back from slump
Investment appetite is gaining as the blue wave takes over the US House of Representatives. As the Democrats take the House following the US midterms, global stocks are responding positively. However, the Greenback is feeling the burn as analysts expect corporate tax cuts to start drying up.
The Loonie is gaining strength from the fall of its American counterpart growing to 76.44 cents US.
The US currency could see a boost again however, as the US Federal Reserve meets to make a decision on the current interest rate. Some analysts are suggesting another rate hike is coming in December to deal with the bloating US economy.
The price of crude is pushing higher, US oil is up to 62.96 a barrel.