CANADA STOCKS-TSX may open higher on gold, data

Mon Nov 23, 2009 9:04am EST
 
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TORONTO Nov 23 (Reuters) - Canada's main stock market index could open higher on Monday as the resource-laden index gets a boost from record gold and firmer oil prices, while the U.S. dollar weakened.

Canadian investors will also digest the latest Canadian economic data that showed retail sales grew twice as much as expected in September from August, led by used and recreational vehicle dealers and supermarkets, Statistics Canada data said Monday. For details, see [ID:nOTT003784]

Toronto's main stock index fell Friday as weaker oil prices, caused partly by a stronger U.S. dollar, weighed on resource issues. [ID:nN20244245]

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

RECORD GOLD

Gold hit a record high at $1,167.45 an ounce Monday as dollar weakness pushed the metal through key technical resistance levels, fueling momentum buying after 1 sharp run higher earlier this month. [ID:nGEE5AM0FB]

OIL RISES

Oil prices rose 2 percent to move above $79 a barrel Monday on weakness in the dollar and signs of buoyant demand from China, the world's second-largest energy consumer. [ID:nSYD484303]

CF INDUSTRIES STILL IN AGRIUM PLANS   Continued...