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Global markets: Canada’s current account deficit widens

By Commodity News Service Canada

WINNIPEG, August 30 – The following is a glance at the news moving markets globally.

CANADIAN CURRENT ACCOUNT DEFICIT GROWS IN Q2
Canada’s current account deficit (on a seasonally adjusted basis) increased C$3.3 billion in the second quarter to C$19.9 billion, as the trade in goods deficit continued to widen, Statistics Canada said in a report on Tuesday.

According to StatsCan, in the financial account (unadjusted for seasonal variation), foreign investment in Canadian securities remained strong in the quarter and led the inflow of funds in the economy.

CANADA’S INDUSTRIAL PRODUCT PRICE INDEX GAINS IN JULY
The Industrial Product Price Index (IPPI) rose 0.2 per cent in July. Higher prices for primary non-ferrous metal products were largely moderated by a decline in prices for energy and petroleum products. The Raw Materials Price Index (RMPI) decreased 2.7 per cent, as a result of lower prices for crude energy products, Statistics Canada said in a report on Tuesday.

MORE THAN A MILLION WORKERS EXPECTED TO STRIKE IN INDIA
More than a million employees in India are expected to go on strike effective Friday, market watchers said on Tuesday.

Workers in sectors including banking and telecoms will be protesting labour reforms and looking to receive higher wages.

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