North American stock markets rebounded strongly to close the trading week, with the Toronto stock market posting a triple-digit gain in advance of the Victoria Day holiday weekend. A conservative estimate for the price of oil is US$55 a barrel at some point this year, he said, and that should move the loonie higher too. All four indexes posted losses Thursday in reaction to the Fed news, which appeared to catch traders by surprise. In New York, markets turned higher after big drops Thursday as traders appeared to come to terms with the renewed possibly of a June rate hike. The loonie is facing headwinds from a resurgent U.S. dollar following the news from the Fed on interest rates.

Source: thestar May 20, 2016 13:15 UTC