CANADA STOCKS-TSX may open higher on resources, C$

Tue Jan 5, 2010 8:25am EST
 
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TORONTO Jan 5 (Reuters) - Toronto's main stock market could open higher on Tuesday as firm commodity prices support the resource-heavy market and the Canadian dollar touches a 2 1/2 month high against its U.S. counterpart.

Activity is expected to be cautious, however, as investors take time to digest some key U.S. data including November factory orders and home sales.

Toronto's main stock market finished at its highest level in 15 months on Monday, rising more than 1 percent as soaring oil and gold prices and global manufacturing data suggested more improvement in the world economy. [nN04251204]

Here is some of the news that could affect the market:

CANADIAN DOLLAR

The Canadian dollar hit a 2 1/2-month high against the U.S. dollar on Tuesday as commodity-linked currencies were supported by a rally in oil prices.[nLDE60417B]

GOLD RISES

Gold rose in Europe on Tuesday as the dollar extended the previous session's losses against the euro, with hopes for a global economic recovery encouraging investors to favor riskier assets over the greenback.[nLDE6040UN]

OIL HIGHER   Continued...