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Global markets: Belgium holds up trade deal

By Commodity News Service Canada

WINNIPEG, October 24 – The following is a glance at the news moving markets globally.

BELGIUM’S PRIME MINISTER CANNOT UNBLOCK TRADE DEAL
Belgian officials are unable to sign a EU-Canada trade deal, as regional authorities have been unable to reach an agreement, analysts say.

Canadian and Belgian officials were expected to meet this upcoming Thursday.

IRAQ RESISTS PRODUCTION FREEZE
Iraq officials say the country would like to be exempt from a production cut proposed by the Organization of the Petroleum Exporting Countries (OPEC), according to reports out of the country on Monday.

The news sent crude oil prices lower in early activity.

CANADIAN WHOLESALE SALES UP IN AUGUST
Wholesale sales advanced 0.8 per cent to C$56.8 billion in August, a fifth consecutive gain. Five of the seven subsectors, representing 80 per cent of total wholesale sales, reported increases. The miscellaneous subsector and machinery, equipment and supplies subsector contributed the most to the rise, Statistics Canada said in a report on Monday.

In volume terms, wholesale sales were up 0.8 per cent, according to StatsCan.

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