A look at the morning markets
“The impact of the midterms will probably be short-lived, if impactful at all, as far as markets are concerned,” OANDA senior analyst Craig Erlam said.
In this country, earnings continue to roll in with results due this morning from Rogers Communications. Overseas, the pan-European STOXX 600 was down 0.67 per cent in morning trading. Germany’s DAX slid 0.76 per cent while France’s CAC 40 was off 0.41 per cent. Britain’s FTSE 100 lost 0.36 per cent.Commodities
Prices came under pressure after figures from the American Petroleum Institute showed weekly U.S. crude inventories rose about 5.6 million barrels, much more than the 1.4 million barrels analysts had been forecasting.As well, a rebound in COVID-19 cases in China also continues to raise concerns about demand in one of the world’s top oil consumers.
“Last week oil traders were diving into the trade that no one owned, long oil on an early China reopening,” he said. “With that narrative getting pushed back, coupled with a considerable build on U.S. inventory data, implying dimming US demand, the recessionary crews are back out in full force this morning in Asia.”
Gold prices rose more than 2 per cent to breach the key US$1,700 level on Tuesday, according to figures from Reuters.The Canadian dollar was slightly weaker amid tentative risk sentiment while its U.S. counterpart firmed slightly against a group of currencies but remained down on the week.There were no major Canadian economic reports due Wednesday.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Before the Bell: What every Canadian investor needs to know todayA look at the morning’s market action
Read more »
‘Very emotional’: Chinese-Canadian veterans honoured ahead of Remembrance Day | Globalnews.caAhead of Remembrance Day, a group of Chinese-Canadian youth paid tribute to Canadian veterans at the Chinese-Canadian Military Museum in Vancouver’s Chinatown on Sunday.
Read more »
Birding best medicine for former Sault man battling Lyme diseaseFormer Sault resident Bob Bell tells story of suffering eased by birding in new book
Read more »
Bell: Danielle Smith has to pivot and it's coming soon, maybe on TVAlberta Premier Danielle Smith plans a pivot to issues like inflation and governing where many Albertans sit, just right of the mushy middle
Read more »
Canadian banks readying for carbon offsets to go big, even as doubts remain - BNN BloombergBanks know a growth market when they see it, and they're increasingly seeing one in the buying, selling and generating of carbon offsets.
Read more »