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Global markets: Brexit’s effects not yet seen

By Commodity News Service Canada

WINNIPEG, July 20 – The following is a glance at the news moving markets globally.

BREXIT HASN’T CAUSED ECONOMIC SLOWDOWN YET
The economic effects of Britain’s decision to leave the European Union have not yet been seen, the Bank of England said.

According to the BoE, there is no clear evidence that a sharp economic slowdown took place last month, reports say.

However, market watchers say investment and hiring slowed.

CANADA’S PIPELINE ACTIVITY DOWN

In May, pipeline activities were down in Canada, following marked declines in April. Wildfires in northern Alberta contributed to the decrease in May, while scheduled maintenance at oil sands facilities and a pipeline shutdown affected April estimates, Statistics Canada said in a report on Wednesday.

According to StatsCan, pipelines received less crude oil and equivalent products from fields and plants and, therefore, delivered less oil to refineries in Alberta and Ontario in May.

TAIWAN’S EXPORT SLUMP CONTINUES
Taiwan’s exports dropped in June, the 17th month in a row, according to reports on Wednesday.

Taiwan’s exports dropped 2.1 per cent in June, compared with year-ago levels.

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