Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Russia announced on Wednesday that it will re-enter the Black Sea export agreement that allows Ukraine to ship grain from its war-torn ports. Russia pulled out of the agreement during the weekend over claims its Black Sea fleet had been attacked by drones launched by Ukraine, allegedly from a ship using a safe corridor. The about-face came after talks yesterday between Russian President Vladimir Putin and Turkish President Tayyip Erdogan. Putin demanded assurances that the safe corridors for grain vessels would not be used for launching future military strikes.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– The United States Federal Reserve is scheduled to reveal its latest interest hike at 1 pm CDT on Wednesday. Widespread expectations have pointed towards an increase of 75 basis points; however some analysts recently suggested a 50-point uptick could be more likely. Fed chair Jerome Powell previously suggested there could be less aggressive rate hikes to give the U.S. economy time to adjust to the impact of the central bank’s inflation fighting campaign.
– The South Korean military fired a single guided missile into the waters of the Northern Limit Line (NLL) on Wednesday, in response to a series of North Korean missile launches into the sea. One of the North Korean missiles came within 60 kilometres of the South Korean coast and within the NLL. In addition to the record 23 missiles launches by North Korea, it fired more than 100 artillery rounds into a military buffer zone, which was in flagrant violation of an agreement between the two countries. North Korea’s actions came hours after it demanded South Korea and the U.S. cancel a large-scale military exercise.
– Outgoing Brazilian president Jair Bolsonaro made his first public appearance on Tuesday, two days after he lost the presidential run-off to Luiz Inacio Lula da Silva. While Bolsonaro didn’t explicitly concede defeat, his political supporters promised a smooth transition of power when Lula is to be sworn in on Jan. 1. Bolsonaro also called on the anti-Lula roadblocks throughout Brazil to be peaceful. A report said there were about 250 roadblocks, down from more than 300.
