MID-DAY: Oil spike boosts TSX; Loonie continues slipping on NAFTA worries

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Another spike in oil prices is helping boost the TSX. The Bay Street index is up 77 points to 16,246 as US crude also climbs to 72.05 a barrel. This comes as the US says it has no plans to offset an expected drop in supply when Iranian flow dries up in November.

The Loonie is down to 76.59 cents US after Donald Trump claimed he turned down a meeting request from Justin Trudeau over NAFTA. However, Ottawa says a meeting was never requested.

Investors will be watching for any indication on a possible interest rate hike coming next month when Bank of Canada Governor Stephen Poloz speaks to the media this afternoon.

Across the border, the Dow is up 110 points to 26,495 after the US Federal Reserve announced its own interest rate hike yesterday.

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