Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Jan. 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- In an about face, Canada will procure 88 F-35 stealth fighter jets for approximately C$19 billion, Minister of National Defence Anita Anand announced on Monday. The Lockheed Martin F-35’s, of which Canada had been part of its development, are to replace the Royal Canadian Air Force’s fleet of CF-18’s acquired during the 1980’s. The Trudeau government initially backed out of buying the F-35’s, opting to go with more modern but secondhand F-18’s from Australia. Anand said F-35’s will bolster Canada’s commitments to NORAD and NATO and are to be fully operational by 2034.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The leaders of Canada, Mexico and the United States will meet again on Tuesday at the North American Leaders’ Summit in Mexico. Canadian Prime Minister Justin Trudeau will have a one-on-one meeting with U.S. President Joe Biden today. Trudeau commented on Monday that he and Mexican President Andres Manuel Lopez Obrador fought hard to convince free trade was in the former Trump administration’s best interests. That led to the North American Free Trade Agreement being succeeded by the U.S.-Mexico-Canada Agreement in 2020.
- United States Federal Reserve Chair Jerome Powell is scheduled to participate in a panel discussion on Tuesday regarding the independence of central banks. The markets will be keen to listen to Powell’s comments, looking for any indication as what might come when the Fed announces its next interest rate move on Feb. 1. Included among those joining Powell are Bank of England Governor Andrew Bailey and European Central Bank member Isabel Schnabel. The panel is hosted by Sweden’s central bank, Sveriges Riksbank.
