BEFORE THE BELL: Traders look to Stats Can economy reports today ahead of BOC interest rate decision
Bay Street may get a boost as some positive Canadians earnings reports roll in. CP Rail posted a record-breaking report last night at $622 million in its latest quarter. A few other companies like Rogers Communications will be releasing reports today as well.
Traders will also be looking at Stats Can reports on inflation and retail sales this morning ahead of a Bank of Canada decision on the interest rate coming next week. Analysts have predicted a high probability of another rate hike.
The price of crude is climbing after sliding this week on a US inventories report showing growth in stock. US crude is up to 69.26 a barrel.
The energy-tied Loonie is also gaining to 76.72 cents US.